✅ PART 1 (Q1–50) – DIRECT TAX (FINANCE ACT, COMPUTERIZATION, VIGILANCE & TRAINING)
Q1. The Finance Act is passed annually to:
A. Amend GST
B. Amend Direct Taxes
C. Regulate RBI
D. Control inflation
Q2. Finance Act becomes effective from:
A. Date of presentation
B. 1st April of assessment year
C. Date of Presidential assent
D. Budget day
Q3. Income Tax rates are prescribed under:
A. Income Tax Act
B. Finance Act
C. GST Act
D. RBI Act
Q4. Which authority introduces Finance Bill?
A. RBI
B. Parliament
C. Finance Minister
D. CBDT
Q5. Finance Bill becomes Finance Act after:
A. Approval of CBDT
B. Passing by Parliament & assent
C. Audit
D. Notification
Q6. Amendment in tax law is generally effective from:
A. Same year
B. Previous year
C. Assessment year
D. Next financial year
Q7. Surcharge is levied on:
A. Income
B. Tax
C. Gross receipts
D. Profit
Q8. Health & Education cess is calculated on:
A. Income
B. Tax + surcharge
C. Gross income
D. Net income
Q9. Recent Finance Acts aim at:
A. Simplification
B. Digitization
C. Transparency
D. All
Q10. New tax regime under section 115BAC is:
A. Optional
B. Mandatory
C. Temporary
D. Ignored
Q11. Standard deduction is allowed under:
A. Business income
B. Salary income
C. Capital gains
D. Other sources
Q12. Rebate under section 87A applies to:
A. All taxpayers
B. Individuals
C. Companies
D. Firms
Q13. TDS provisions are amended through:
A. GST Act
B. Finance Act
C. RBI Act
D. SEBI
Q14. Faceless assessment is introduced to:
A. Increase tax
B. Reduce corruption
C. Increase workload
D. Delay cases
Q15. Faceless appeals are handled through:
A. Local office
B. Online platform
C. Courts
D. Banks
Q16. Computerization in Income Tax Department includes:
A. E-filing
B. CPC
C. AIS
D. All
Q17. CPC stands for:
A. Central Processing Centre
B. Central Payment Cell
C. Central Public Commission
D. None
Q18. CPC processes:
A. Returns
B. Refunds
C. Adjustments
D. All
Q19. CPC is located at:
A. Delhi
B. Mumbai
C. Bengaluru
D. Chennai
Q20. AIS provides:
A. Tax data
B. Financial transactions
C. Income details
D. All
Q21. TIS stands for:
A. Taxpayer Information Summary
B. Tax Information System
C. Tax Income Sheet
D. None
Q22. AIS is more detailed than:
A. Form 16
B. Form 26AS
C. PAN
D. TAN
Q23. E-assessment eliminates:
A. Tax
B. Human interface
C. Filing
D. Refund
Q24. DIN is used in:
A. PAN
B. Notices
C. GST
D. Audit
Q25. DIN ensures:
A. Transparency
B. Tracking
C. Authenticity
D. All
Q26. Computerization reduces:
A. Errors
B. Corruption
C. Time
D. All
Q27. E-proceedings are conducted through:
A. Physical meetings
B. Online portal
C. Court
D. Bank
Q28. Income Tax portal provides:
A. Filing
B. Refund tracking
C. Notice response
D. All
Q29. Vigilance in IT Department refers to:
A. Tax collection
B. Monitoring corruption
C. Filing returns
D. Budgeting
Q30. Vigilance ensures:
A. Integrity
B. Discipline
C. Transparency
D. All
Q31. Vigilance cases include:
A. Fraud
B. Misconduct
C. Corruption
D. All
Q32. Preventive vigilance aims to:
A. Punish
B. Prevent misconduct
C. Audit
D. Collect tax
Q33. Training in IT Department is conducted for:
A. Skill development
B. Awareness
C. Efficiency
D. All
Q34. NADT stands for:
A. National Academy of Direct Taxes
B. National Audit Department
C. National Accounts Division
D. None
Q35. NADT is located at:
A. Delhi
B. Mumbai
C. Nagpur
D. Chennai
Q36. Training helps in:
A. Updating knowledge
B. Improving efficiency
C. Handling technology
D. All
Q37. Recent amendments emphasize:
A. Digitization
B. Compliance
C. Ease of doing business
D. All
Q38. Pre-filled ITR is based on:
A. AIS
B. 26AS
C. TDS data
D. All
Q39. E-verification replaces:
A. Filing
B. Physical signature
C. Audit
D. Assessment
Q40. Online grievance system is:
A. CPGRAMS
B. AIS
C. TDS
D. GST
Q41. Faceless penalty scheme aims to:
A. Increase penalty
B. Ensure transparency
C. Delay cases
D. None
Q42. Risk management system is used for:
A. Audit selection
B. Refund
C. Filing
D. Payment
Q43. Data analytics is used for:
A. Tax evasion detection
B. Filing
C. Payment
D. Audit
Q44. PAN-Aadhaar linking ensures:
A. Identity verification
B. Transparency
C. Compliance
D. All
Q45. Recent amendments promote:
A. Cash transactions
B. Digital transactions
C. Barter
D. None
Q46. E-invoicing is related to:
A. GST
B. Income tax
C. Audit
D. Banking
Q47. Computerization improves:
A. Speed
B. Accuracy
C. Transparency
D. All
Q48. Vigilance department reports to:
A. CBDT
B. RBI
C. SEBI
D. GST
Q49. Training programs include:
A. Technical
B. Legal
C. IT systems
D. All
Q50. Overall objective of reforms is:
A. Revenue increase
B. Compliance
C. Transparency
D. All
Q51. If a provision is amended by Finance Act without specific date, it is effective from:
A. Date of assent
B. 1st April of relevant assessment year
C. Budget day
D. Notification date
Q52. Amendment in surcharge rate affects:
A. Income
B. Tax liability
C. Gross receipts
D. Expenses
Q53. Health & Education cess is currently levied at:
A. 2%
B. 3%
C. 4%
D. 5%
Q54. New tax regime under section 115BAC becomes default from:
A. FY 2021-22
B. FY 2022-23
C. FY 2023-24
D. FY 2024-25
Q55. Option to opt out of new tax regime is available to:
A. All taxpayers
B. Individuals & HUF
C. Companies
D. Firms only
Q56. Faceless assessment is governed under section:
A. 139
B. 143(3A)
C. 80C
D. 194
Q57. Jurisdiction in faceless scheme is:
A. Physical
B. Dynamic
C. Fixed
D. Local
Q58. DIN is mandatory for:
A. All communications
B. PAN
C. GST
D. Audit
Q59. Communication without DIN is:
A. Valid
B. Invalid
C. Optional
D. Conditional
Q60. E-proceedings reduce:
A. Paperwork
B. Physical interaction
C. Delay
D. All
Q61. AIS includes high-value transactions like:
A. Property
B. Shares
C. Bank deposits
D. All
Q62. TIS is derived from:
A. AIS
B. PAN
C. TAN
D. GST
Q63. Pre-filled ITR reduces:
A. Errors
B. Effort
C. Time
D. All
Q64. CPC uses automation for:
A. Processing returns
B. Refunds
C. Adjustments
D. All
Q65. Refund adjustment against demand is done under section:
A. 143(1)
B. 245
C. 139
D. 80C
Q66. Risk Management Strategy (RMS) is used for:
A. Selecting cases
B. Refund
C. Filing
D. Payment
Q67. Data analytics in ITD helps in:
A. Detecting evasion
B. Compliance monitoring
C. Risk assessment
D. All
Q68. PAN-Aadhaar linking is governed under section:
A. 139AA
B. 80C
C. 194
D. 143
Q69. Failure to link PAN-Aadhaar results in:
A. Penalty only
B. PAN inoperative
C. Refund delay
D. Both A & B
Q70. E-campaign by ITD is for:
A. Awareness
B. Compliance
C. Voluntary disclosure
D. All
Q71. Vigilance cases are handled by:
A. CBDT vigilance wing
B. RBI
C. SEBI
D. GST
Q72. Vigilance angle includes:
A. Corruption
B. Misconduct
C. Abuse of power
D. All
Q73. Preventive vigilance includes:
A. Training
B. Monitoring
C. System improvement
D. All
Q74. Punitive vigilance deals with:
A. Prevention
B. Punishment
C. Training
D. Audit
Q75. Disciplinary action is taken for:
A. Misconduct
B. Fraud
C. Corruption
D. All
Q76. NADT provides training for:
A. IRS officers
B. Clerks
C. Bankers
D. Auditors
Q77. Training modules include:
A. Law
B. IT systems
C. Investigation
D. All
Q78. Continuous training ensures:
A. Updated knowledge
B. Efficiency
C. Compliance
D. All
Q79. E-learning platforms are used for:
A. Training
B. Filing
C. Audit
D. Payment
Q80. Skill development improves:
A. Efficiency
B. Accuracy
C. Decision-making
D. All
Q81. Finance Act amendments aim at:
A. Revenue mobilization
B. Compliance
C. Transparency
D. All
Q82. Digital economy is promoted through:
A. Cash incentives
B. Digital transactions
C. Barter
D. None
Q83. Equalisation levy relates to:
A. Domestic tax
B. Digital transactions
C. GST
D. Audit
Q84. GAAR stands for:
A. General Anti-Avoidance Rules
B. Gross Accounting Rules
C. General Audit Rules
D. None
Q85. GAAR targets:
A. Tax evasion
B. Tax avoidance
C. Compliance
D. Filing
Q86. Faceless penalty scheme ensures:
A. Bias
B. Transparency
C. Delay
D. None
Q87. ITBA system stands for:
A. Income Tax Business Application
B. Income Tax Banking App
C. Internal Tax Board Application
D. None
Q88. ITBA is used for:
A. Assessment
B. Appeals
C. Penalty
D. All
Q89. E-office in ITD ensures:
A. Paperless work
B. Efficiency
C. Transparency
D. All
Q90. Digital signature ensures:
A. Authentication
B. Security
C. Integrity
D. All
Q91. Finance Act amendments are interpreted with:
A. CBDT circulars
B. Case laws
C. Rules
D. All
Q92. CBDT issues:
A. Circulars
B. Instructions
C. Notifications
D. All
Q93. Circulars are binding on:
A. Assessee
B. Department
C. Court
D. None
Q94. Amendments can be:
A. Prospective
B. Retrospective
C. Both
D. None
Q95. Retrospective amendment affects:
A. Future
B. Past
C. Present
D. None
Q96. Computerization reduces:
A. Human error
B. Delay
C. Corruption
D. All
Q97. Data integration helps in:
A. Tracking income
B. Detecting evasion
C. Compliance
D. All
Q98. E-assessment improves:
A. Efficiency
B. Transparency
C. Accountability
D. All
Q99. Vigilance ensures:
A. Discipline
B. Integrity
C. Accountability
D. All
Q100. Overall reforms aim at:
A. Ease of doing business
B. Compliance
C. Transparency
D. All
✅ ANSWER KEY (Q1–50)
1-B, 2-C, 3-B, 4-C, 5-B
6-C, 7-B, 8-B, 9-D, 10-A
11-B, 12-B, 13-B, 14-B, 15-B
16-D, 17-A, 18-D, 19-C, 20-D
21-A, 22-B, 23-B, 24-B, 25-D
26-D, 27-B, 28-D, 29-B, 30-D
31-D, 32-B, 33-D, 34-A, 35-C
36-D, 37-D, 38-D, 39-B, 40-A
41-B, 42-A, 43-A, 44-D, 45-B
46-A, 47-D, 48-A, 49-D, 50-D
✅ ANSWER KEY (Q51–100)
51-B, 52-B, 53-C, 54-C, 55-B
56-B, 57-B, 58-A, 59-B, 60-D
61-D, 62-A, 63-D, 64-D, 65-B
66-A, 67-D, 68-A, 69-D, 70-D
71-A, 72-D, 73-D, 74-B, 75-D
76-A, 77-D, 78-D, 79-A, 80-D
81-D, 82-B, 83-B, 84-A, 85-B
86-B, 87-A, 88-D, 89-D, 90-D
91-D, 92-D, 93-B, 94-C, 95-B
96-D, 97-D, 98-D, 99-D, 100-D
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