Explore topic-wise MCQs in Bachelor of Business Administration (BBA).

This section includes 253 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Business Administration (BBA) knowledge and support exam preparation. Choose a topic below to get started.

101.

…………. is exempted from income tax.

A. interest from indian company
B. dividend from foreign company
C. cooperative dividend
D. dividend from indian company
Answer» E.
Discussion
102.

The tax incidence for company or firm in which income received outsideIndia from a source controlled from India for non-resident is .

A. non-taxable
B. taxable
C. partly taxable
D. none of the above
Answer» B. taxable
Discussion
103.

The tax incidence for company or firm in which income received outsideIndia from a source controlled from India for resident is .

A. taxable
B. non-taxable
C. partly taxable
D. none of the above
Answer» B. non-taxable
Discussion
104.

The tax incidence for company or firm in which income received in Indiaand company for non-resident is .

A. taxable
B. non-taxable
C. partly taxable
D. none of the above
Answer» B. non-taxable
Discussion
105.

The tax incidence for company or firm in which income received in Indiaand company is resident is .

A. taxable
B. non-taxable
C. partly taxable
D. none of the above
Answer» B. non-taxable
Discussion
106.

The income received and accrued outside India from a business controlledor profession set up in India, the tax incidence in case of non-resident is .

A. taxable
B. non-taxable
C. partly taxable
D. none of the above
Answer» C. partly taxable
Discussion
107.

The income received and accrued outside India from a business controlledor profession set up in India, the tax incidence in case of resident is .

A. taxable
B. non-taxable
C. partly taxable
D. none of the above
Answer» B. non-taxable
Discussion
108.

Income deemed to be received in India whether occurred in India oroutside India, the tax incidence in case of resident is .

A. taxable as per slabs
B. exempted from slab
C. partly exempted
D. none of the above
Answer» B. exempted from slab
Discussion
109.

Income received in India whether occurred in India or outside India, the taxincidence in case of non-resident is .

A. taxable as per slabs
B. exempted from slab
C. partly exempted
D. none of the above
Answer» B. exempted from slab
Discussion
110.

Income received in India whether occurred in India or outside India, the taxincidence in case of resident but not ordinarily resident is .

A. taxable as per slabs
B. exempted from tax
C. partly exempted
D. none of the above
Answer» B. exempted from tax
Discussion
111.

Income received in India whether occurred in India or outside India, the taxincidence in case of resident is .

A. taxable as per slabs
B. exempted from tax
C. partly exempted
D. none of the above
Answer» B. exempted from tax
Discussion
112.

The income from foreign companies by providing the services in projectconnected with security of India is from tax liability.

A. 50% exempted
B. 20% exempted
C. 100% exempted
D. 55% exempted
Answer» D. 55% exempted
Discussion
113.

The period of 12 months commencing on the first day of April every yearand ending on 31st March is called as .

A. previous year
B. assessment year
C. accounting year
D. financial year
Answer» C. accounting year
Discussion
114.

As per Income Tax Act, 1961, income tax is charged on the income ofat a rates which are prescribed by the Finance Act of relevant assessment year.

A. current year
B. one year before previous year
C. previous year
D. none of the above
Answer» D. none of the above
Discussion
115.

Income Tax is levied on the ___________ of a person.

A. total income
B. total income-debt
C. gross total income
D. net income-debt perquisites
Answer» B. total income-debt
Discussion
116.

Rental income from the business of leasing out properties would be taxable under the head_______

A. income from house property
B. income from other sources
C. income from pgbp
D. income from capital gain
Answer» D. income from capital gain
Discussion
117.

Payment of Rs. ` 45,000 made in cash towards purchases of medicines. The amount of disallowance under section 40A(3) is -

A. rs 45,000
B. rs 30,000
C. nil
D. rs 20,000
Answer» B. rs 30,000
Discussion
118.

As per Section 2(e a), which of the following is an asset in case of an individual:

A. cash in hand up to rs. 50,000
B. shares
C. debentures or bonds
D. motor car used for official purposes
Answer» B. shares
Discussion
119.

Deduction under section 80C to 80U cannot exceed:

A. gross total income
B. total income
C. income from business or profession
D. income from house property
Answer» B. total income
Discussion
120.

Amount of deduction in case of a person with severe disability under section 80U will be:

A. rs. 50,000
B. rs. 75,000
C. rs. 1,00,000
D. rs. 1,50,000
Answer» D. rs. 1,50,000
Discussion
121.

Tax refund has to be claimed within :

A. five years
B. same year
C. one year
D. next year
Answer» D. next year
Discussion
122.

In the absence of the individual assesses, return of income can be signed by …………………

A. legal heir
B. spouse.
C. any person.
D. authorized person
Answer» E.
Discussion
123.

ITR -5 is related to :

A. for individuals
B. for huf.
C. for firms, aops and bois.
D. for companies.
Answer» B. for huf.
Discussion
124.

The trust should be one established in accordance with law and its objects should fall within the definition of the term ………….

A. charitable purposes
B. work purpose
C. assessment purposes
D. to earn profit purpose
Answer» B. work purpose
Discussion
125.

Joint Commissioners are appointed by…………

A. central government
B. state government
C. district government
D. gram panchayat
Answer» B. state government
Discussion
126.

The subject matter of the trust is called …………….

A. trust property
B. own property
C. own furniture
D. none of the above
Answer» B. own property
Discussion
127.

The person who accepts the confidence is called ………….

A. trustee
B. karta
C. firm
D. aop
Answer» B. karta
Discussion
128.

…………..is an obligation annexed to the ownership of property.

A. trust
B. firm
C. company
D. karta
Answer» B. firm
Discussion
129.

…………..cannot become a partner.

A. minor
B. partner
C. firm
D. society
Answer» B. partner
Discussion
130.

Collective group of persons is known as……..

A. firm
B. society
C. person’
D. none of the above
Answer» B. society
Discussion
131.

The payment is authorized by, and is in accordance with the term of partnership deed according to sec………….

A. sec. 40(b)(ii)
B. sec. 40(b)(iii)
C. sec. 50(b)(ii)
D. none of the above
Answer» B. sec. 40(b)(iii)
Discussion
132.

. A person entered into partnership is known as …………

A. partner
B. people
C. karta
D. none of the above
Answer» B. people
Discussion
133.

A Long term capital asset means a capital asset held by the assessee for more than:

A. 12 months immediately preceding the month of its transfer.
B. 24 months immediately preceding the date of its transfer.
C. 36 months immediately preceding the date of its transfer.
D. none of the above.
Answer» D. none of the above.
Discussion
134.

In terms of section 2(42A), listed securities are treated as long-term capital asset, if they are held for a period of more than –

A. 12 months
B. 36 months
C. 24 months
D. 48 months
Answer» B. 36 months
Discussion
135.

A short term capital asset means a capital asset held by the assessee for not more than:

A. 12 months immediately preceding the month of its transfer
B. 24 months immediately preceding the date of its transfer.
C. 36 months immediately preceding the date of its transfer.
D. none of the above.
Answer» D. none of the above.
Discussion
136.

Which of the following are included in the jewellery -

A. ornaments made of gold, silver and platinum.
B. precious metals whether or not worked or sewn into any wearing apparel.
C. semi-precious stones.
D. all of the above.
Answer» E.
Discussion
137.

Capital asset excludes all except

A. stock-in-trade
B. personal effects
C. jewellery
D. agricultural land in india.
Answer» D. agricultural land in india.
Discussion
138.

The following shall be regarded as capital asset:

A. gold jewellery held by jeweller as sit trade.
B. securities held by fii as per sebi act, 1992, held as stock in trade.
C. motor car held by motor car manufacturer as sit
D. none of above
Answer» C. motor car held by motor car manufacturer as sit
Discussion
139.

The following shall not be regarded as capital asset:

A. urban land
B. securities held by a foreign institutional investor as per sebi act, 1992
C. archaeological collections
D. motor car
Answer» E.
Discussion
140.

Which of the following is not a requisite for charging income-tax on capital gains –

A. the transfer must have been effected in the relevant assessment year
B. there must be a gain arising on transfer of capital asset
C. capital gains should not be exempt u/s 54
D. capital gains should not be exempt u/s 54ec
Answer» B. there must be a gain arising on transfer of capital asset
Discussion
141.

The charging section of the income under the head capital gains is :

A. section 15
B. section 17
C. section 10
D. section 45 (2)
Answer» E.
Discussion
142.

For computation of Gross Annual Value, if actual rent is more than expected rent, then we select the .

A. actual rent
B. expected rent
C. any of the above
D. none of the above
Answer» B. expected rent
Discussion
143.

Income from property held under trust for charitable or religious purposes is .

A. exempted from tax
B. taxable @ 10%
C. taxable @ 20%
D. none of the above
Answer» B. taxable @ 10%
Discussion
144.

Rent from House Property let out by an assessee to his employees when such letting is incidental to his main business will be chargeable to tax under head .

A. profit and gain from business and profession
B. income from capital gain
C. income from house property
D. all of the above
Answer» B. income from capital gain
Discussion
145.

Gross annual value shall be higher of .

A. expected rent
B. actual rent received or receivable
C. all of the above
D. none of the above
Answer» D. none of the above
Discussion
146.

The net annual value of house let out is ` 1,00,000 and actual amount spent by the assessee on repairs and insurance premium is ` 20,000. The amount of deduction allowed under Section 24(a) shall be .

A. ` 35,000
B. ` 45,000
C. ` 30,000
D. ` 25,000
Answer» D. ` 25,000
Discussion
147.

When annual value of one-self occupied house is nil, the assesses will be entitled to the standard deduction of .

A. 10%
B. 20%
C. nil
D. none of the above
Answer» D. none of the above
Discussion
148.

Rent received by original tenant from sub-tenant is taxable under the head

A. income from house property
B. income from other sources
C. income from capital gain
D. none of the above
Answer» C. income from capital gain
Discussion
149.

If fair rent is not gives, then assume………….as fair rent.

A. actual rent
B. standard rent
C. average rent
D. none of the above
Answer» B. standard rent
Discussion
150.

When the portion of the house is self-occupied for the full year and portion is self-occupied for the whole year, the annual value of the house shall be determined by .

A. the full annual value of the house the proportionate annual value of selfoccupied portion for the whole year shall be deducted
B. its present standard value
C. all of the above
D. none of the above
Answer» B. its present standard value
Discussion