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.

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