December 2015 - Paper 3

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3. December 2015
4. Paper 3

71:   Consider the following conditions :

(a) An individual is in India for a period of 182 days in the financial year in which he is
getting his salary income.

(b) An individual is in India for a period of 60 days or more during financial year in which
he gets his salary and 365 days or more during 4 years immediately preceding to that
financial year.

If one of the above conditions is satisfied, as per the provisions of Income Tax Act, 1961, he
is :

A.	Resident but not ordinarily resident of India
B.	Non-resident citizen of India
C.	Resident and categorised citizen of India U/S 29
D.	Ordinary resident of India
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	Option: D Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

72:   Agriculture income is exempted from income tax under the following section of Income Tax
Act, 1961 :

A.	2 (1A)
B.	10 (1)
C.	10 (2)
D.	10 (4)
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	Option: B Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

73:  

Match the items of List - I with List - II :

 

List - I                                                                                                               List - II

 

(a) When the assessee is in default or is deemed to be                  (i) Section 271 (1) (c)

in default in makin g payment of tax, including

the tax deducted at source

 

(b) Failure to pay the advance tax as directed by the                     (ii) Section 273 (1)

      Assessing Officer

 

(c) Concealment of particulars of income or                                   (iii) Section 201 (1)

      furnishing of inaccurate particulars of income

A.	(i) (il) (iii)
B.	(iii) (ii) (i)
C.	(iii) (i) (ii)
D.	(ii) (i) (iii)
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74:   Assertion (A) : Tax evasion is undertaken by employing unfair means.

Reasoning (R) : Payment of tax is avoided through illegal means or fraud for tax evasion.

A.	Assertio n (A) is correct and Reasoning (R) is the right explanation of (A).
B.	Assertion (A) is correct but Reasoning (R) is not the right explanation of (A).
C.	Both Assertion (A) and Reasoning (R) are correct independently and (R) may be considered as an explanation of (A).
D.	Both Assertion (A) an d Reasoning (R) are incorrect.
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	Option: A Explanation : Click on Discuss to view users comments. Write your comments here: Updating your Comments.. Updating your Comments..

75:   Which among the following are necessary documents to file Income Tax Return for an
employed person in India?

(a) Adhar Card

(b) PAN Card

(c) Form No. 16 issued by employer

A.	(a) only
B.	(a) and (b)
C.	(a), (b) and (c)
D.	(b) and (c)
	Answer Report Discuss
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