Taxation - IMPORTANT QUESTIONS

Income Tax Act, 1961 is an act to levy, administrate, collect & recover Income-tax in India. It came into force from 1st April 1962. ... A person also has to keep track of his TDS deducted while calculating his final tax liability at the end of the year.

IMPORTANT QUESTIONS

TAXATION SHORT IMPORTANT QUESTIONS

1. PERQUISITE

2. TOTAL INCOME

3. INCOME

4. ANNUAL VALUE OF HOUSE PROPERTY

5. VAT

6. NET WEALTH

7. DEBT OWED

8. AUTHORIZED UNDER M-FAT ACT 2002

9. AGRICULTURE INCOME

10. SALARY

11. ASSESSMENT YEAR

12. INCOME

13. RESIDENTIAL AND NON-RESIDENTIAL STATUS

14. ASSET

15. EXAMPLE THE NON RESIDENTIAL STATUS

16. DEFINE THE TERM BUDGET PREVIOUS YEAR, FINANCIAL YEAR AND ASSESSMENT YEAR

17. EXAMPLE THE CONCEPT OF TAXATION DIRECT SOURCE TDS

18. ADVANCE TAX

19. VALUATION DATE OF WEALTH TAX

20. ASSESSE

21. HEIRLOOM JEWELRY

22. COMPUTATION OF INCOME

23. DEEMED ASSETS UNDER WEALTH TAX ACT

24. ADVANCE PAYMENT OF TAX

25. BEST JUDGEMENT ASSESSMENT

26. CONCEPT OF TAX EVASION AND ORDNANCE PERMANENT ACCOUNT NUMBER

27. METHOD OF VALUATION OF GRATUITY

28. ACCOUNTING YEAR OR FINANCIAL YEAR

29. INTER STATE SALE OF A GOOD

30. PERSON AND ASSESSE

31. REVENUE RECEIPT AND CAPITAL RECEIPT

32. LONG TERM CAPITAL GAIN OR SHORT TERM CAPITAL GAIN

33. SET OFF OF LOSSES AND CARRY FORWARD OF LOSSES

34. DOUBLE TAXATION RELIEF

35. TAX RECOVERY OFFICER

36. TAX IDENTIFICATION NUMBER

37. WEALTH TAX AUTHORITY

TAXATION LONG IMPORTANT QUESTIONS

1. Historical development of taxation system in india

2. Clubbing of income under income tax act 1961

3. Assessment for kind of assessment

4. Function of income tax authorities

5. Any 8 income which do not form part of total income as a prescribed under the section 10 of income tax act

6. Section 5 under wealth tax act 1957

7. Power and function under the Maharashtra value added tax act 2002

8. Constitutional power of taxation

9. Various head of income tax income tax act 1957

10. Deduction allowable in computing the income from house property

11. Total income computed under the head of salary with deduction allowed their form

12. Deemed asset under section 4 of wealth tax act 1957

13. Best judgement assessment under section 144 of IT act

14. 10 type of income under the section 10 of the IT act

15. Define salary and allowances any four taxable prerequisite

16. Permissible deduction under section 24

17. Annual letting value under section 23