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Income Tax General Quiz

This quiz is designed to help people to self evaluate their income tax knowledge

1 / 15

Out of the first _____characters, the first three characters represent the alphabetic series running from AAA to ZZZ.

2 / 15

Section ______ provides for levy of interest for default in payment of instalment(s) of advance tax.

3 / 15

Permanent Account Number (PAN) is a _________digit unique alphanumeric number issued by the Income Tax Department.

4 / 15

Application for obtaining PAN is to be made in Form _______ (in case of a resident).

5 / 15

There are certain specified financial transactions in which quoting of PAN is mandatory, if a person intending to enter into the transaction does not hold PAN then he may furnish Aadhar in link of PAN.

6 / 15

Which of the following challan is to be used for making payment of income-tax and Corporate tax (i.e. income-tax by companies)?

7 / 15

Interest under section 234C is not levied, if, the shortfall in payment of advance tax is due to failure to estimate the amount of capital gains or income referred to in section 2(24)(ix) (i.e. winning from lotteries, crossword puzzle, etc.).

8 / 15

Interest under section 234B is levied in following two cases:

  1. When the taxpayer has failed to pay advance tax though he is liable to pay advance tax; or
  2. Where the advance tax paid by the taxpayer is less than 75% of the assessed tax

9 / 15

Which of the following challan is to be used for making payment of tax deducted at source in case of immovable property?

10 / 15

Which of the following challan is to be used for making payment of TDS/TCS by corporate and non-corporate deductors/collectors?

11 / 15

Under section 234A, interest is levied for _______________________.

12 / 15

Section 234B provides for levy of interest for default in complying with the notice for payment of tax

13 / 15

There is no bar on obtaining more than one PAN i.e. a person can hold more than one PAN.

14 / 15

Interest under section ______ is levied from the first day of the assessment year, i.e., from 1st April till the date of determination of income under section 143(1) or when a regular assessment is made, then till the date of such a regular assessment.

15 / 15

Interest under section 234A for delay in filing the return of income is levied at _____ % per month or part of a month.

 

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