List of top Legal Studies Questions on Tax Law asked in AIBE

Which type of allowance qualifies for deduction under Section 16(ii) of the Income-tax Act, 1961?

According to Section 44AA(2)(i) of the Income-tax Act, 1961, a person carrying on business must maintain books of account if income from business or profession exceeds:

Rent-Free Accommodation provided by an employer to an employee is:

Read the given statements and choose the correct option:
Statement 1: Agricultural income is exempt from tax under Section 10(1) of the Income Tax Act, 1961.
Statement 2: Tax on Non-Agricultural Income in case of exceeding ₹5000/- is determined by the Scheme of Partial Integration of Non-Agricultural Income with Agricultural Income.

Mr. X deposits ₹65,000 in a term deposit for 5 years with the Post Office to avail tax deduction under Section 80C. Assuming Mr. X does not opt for the concessional tax regime under Section 115BAC. What is the correct option?

The term "Income" is described in the Income Tax Act, 1961, under which section?

Which of the following would be the first previous year in case of a business or profession newly set up on 31st March, 2020 as per the Income Tax Act, 1961?

As per the Income Tax Act, 1961, a person is said to be resident of India in any previous year if he had been in India for a period of the following number of days in the previous year:

Which of the following provision of the Constitution of India states that no tax can be levied or collected except by authority of law?

Income is defined under which of the following provision of the Income Tax Act, 1961?

In which case Justice J.C. Shah of S.C. observed "Since by the exercise of the power a serious invasion is made upon the rights, privacy and freedom of the tax payer, the power must be exercised strictly in accordance with law and only for the purpose for which law authorises it to be exercised"

Section 29 of the Wealth Tax Act deals with