Income Tax Deductions MCQs (80C to 80 U)
Income Tax MCQs 2022 – 23
In this page you get Income Tax Deductions MCQs (80C to 80 U) which are asked in various exams of Mumbai University, Dibrugarh University, Gauhati University, Kolkata University and Assam University.
Also, these questions are useful for B. Com exams of various universities covered under CBCS pattern.
Also, these income tax objective type questions and answers are also useful for NTA Net Commerce Exam, CMA, CA, CS and other competitive exams.
Introduction to Deduction under Sec. 80C
This deduction is in respect of amounts paid as Life Insurance premiums, ULIP, CTD, Contribution to Provident Fund, Superannuation Fund, Public Provident Fund, etc., amounts invested in N.S.C. VI, VII and VIII Issues, repayment of loan taken for purchase or construction of residential house, etc. Deduction under Sec.80C is to be given only to Individuals and Hindu Undivided Families.
1. Deduction under
section 80C is allowed to:
a) Individual
b) Individual or HUF
c) Individual or HUF resident in India
d) All Assessee
Ans:
b) Individual or HUF
2. Maximum deduction
under section 80C is:
a) 1,00,000
b) 1,50,000
c) 2,00,000
d) 70,000
Ans:
b) 1,50,000
3.
Section 80C provides for deduction in respect of tuition fee to _______
children.
a) One.
b) Two.
c) Three.
d) None.
Ans:
b) Two.
4.
Deduction u/s 80CCC allowed to an individual for amount paid by him in an
annuity plan of LIC is restricted to
a) Rs. 5,000
b) Rs. 7,500
c) Rs. 1,50,000
d) Rs. 12,500
Ans:
c) Rs. 1,50,000
5. Deduction under
section 80D is allowed to:
a) Individual
b) Individual or HUF
c) Individual or HUF resident in India
d) All Assessee
Ans:
b) Individual or HUF
6. Medical insurance
premium incurred for senior citizen is eligible for deduction up to ________
under section 80D.
a) Rs. 30,000
b) Rs. 50,000
c) Rs. 1,00,000
d) Rs. 60,000
Ans:
b) Rs. 50,000
7.
The maximum amount of deduction under section 80D in the case of a senior
citizen is:
a) Rs: 10,000.
b) Rs: 15,000.
c) Rs: 50,000.
d) Rs: 25,000.
Ans:
c) Rs: 50,000.
8.
The maximum amount of deduction under section 80D if both taxpayer and parents
are senior citizen is:
a) Rs: 10,000.
b) Rs: 15,000.
c) Rs: 50,000.
d) Rs: 1,00,000.
Ans:
c) Rs: 1,00,000.
Hint: Deduction under Section 80D
Deduction under section 80D is allowed to individuals and HUF
against payment Health insurance premium and medical expenses of family
including parents. Details of deduction under the section 80D are listed below:
|
Situation |
Self,
Spouse and
Children |
Parents |
Preventive
health checkup |
Maximum
Deduction us
80D |
|
All family
member (Self, Spouse and Children) |
25,000 |
|
5,000 |
25,000 |
|
All person
in the family including parents are less than 60 years |
25,000 |
25,000 |
5,000 |
50,000 |
|
All family
members are below 60 years but parents are above 60 years |
25,000 |
50,000 |
5,000 |
75,000 |
|
The eldest
member of the family and parents are above 60 years |
50,000 |
50,000 |
5,000 |
1,00,000 |
9. Deduction under
section 80DD is allowed to:
a) Individual
b) Individual or HUF
c) Individual or HUF resident in India
d) All Assessee
Ans:
b) Individual or HUF
10.
The amount of deduction under section 80DD regarding disability which is less
than 80%
a) Rs: 30,000.
b) Rs: 50,000.
c) Rs: 75,000.
d) Actual expense.
Ans:
c) Rs: 75,000.
11.
The amount of deduction under section 80DD regarding disability which is more
than 80%
a) Rs: 30,000.
b) Rs: 50,000.
c) Rs: 1,25,000.
d) Actual expense.
Ans:
c) Rs: 1,25,000.
12.
Deduction under the section 80E is allowed in respect of
a) Donations to charitable institutions
b) Medical treatment of handicapped person
c) Interest on loan taken for education
d) Profits earned from exports
Ans: c) Interest on loan taken for education
13.
Deduction u/s. 80E in respect of interest on education loan is allowed for:
a) 10 years or till the interest is paid
whichever is earlier.
b) 8 years or till the interest is paid
whichever is earlier.
c) 10 years
d) 8 years
Ans:
b) 8 years or till the interest is paid whichever is earlier.
14.
Deduction under the section 80EE is allowed in respect of
a) Donations to charitable institutions
b) Medical treatment of handicapped person
c) Interest on Home Loan
d) Profits earned from exports
Ans:
c) Interest on Home Loan
15.
Quantum of deduction u/s 80EE is:
a) 5,000
b) 50,000
c) 75,000
d) None of the above
Ans:
b) 50,000
16. On donation to whom of the following a 50% deduction is allowable
u/s.80G of the Income Tax Act?
a) Rajiv Gandhi Foundation
b) Prime Ministers Drought Relief Fund
c) Rajiv Gandhi Foundation
d) Jawaharlal Nehru Memorial Fund
e) All of the above
Ans:
e) All of the above
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16. On donation to whom of the following a 100% deduction is allowable
u/s.80G of the Income Tax Act?
a) National Sports funds
b) Prime Ministers National Relief Fund
c) Swachh Baharat Kosh
d) Clean Ganga Fund
e) All of the above
Ans:
e) All of the above
17. Donation on National Defence
Fund is deductible 100% out of the gross total income of the assessee, under
section:
a) 80C.
b) 80CC.
c) 80G.
d) 80GG.
Ans: c) 80G.
18. Cash donation given to a charitable trust (approved under section
80G) is eligible for deduction under that section, when the amount of donation
does not exceed
a) Rs. 2,000
b) Rs. 5,000
c) Rs. 7,000
d) Rs. 10,000
Ans: a) Rs. 2,000
19. The maximum amount
deductible u/s 80GG in respect of rent paid is:
a) Rs: 10,000.
b) Rs: 12,000.
c) Rs: 20,000.
d) Rs: 60,000. (Rs. 5000 pm)
Ans: d) Rs: 60,000. (Rs. 5000
pm)
20. 80GGA available for donations made to
a) Charitable Institutions
b) Educational Institutions
c) Research Associations
d) Religion organizations
Ans: c) Research Associations
21. Amount of deduction in respect of donation to approved scientific
research institution u/s 80GGA is:
a) 100% of such donation
b) 200% of such donation
c) 175% of such donation
d) None of above
Ans: a) 100% of such donation
22. 80GGB available for donations made by companies to:
a) Charitable Institutions
b) Educational Institutions
c) Research Associations
d) Political Parties
Ans: d) Political Parties
23. 80GGC available for donations made by person other than companies to:
a) Charitable Institutions
b) Educational Institutions
c) Research Associations
d) Political Parties
Ans: d) Political Parties
24. Deduction under
section 80TTA is allowed to:
a) Individual
b) Individual or HUF
c) Individual or HUF resident in India
d) All Assessee
Ans: b) Individual or HUF
25. Maximum deduction
under section 80TTA is:
a) 1,00,000
b) 1,50,000
c) 2,00,000
d) 10,000
Ans: d) 10,000
26.
Which among the following deduction is available only to disabled persons?
a) 80 C.
b) 80 G.
c) 80 Q.
d) 80 U.
Ans:
d) 80 U.
27.
The amount deductible for severe disability u/s 80U is:
a) Rs: 1,25,000.
b) Rs: 1,20,000.
c) Rs: 50,000.
d) Rs: 90,000.
Ans:
a) Rs: 1,25,000.
28.
The amount deductible for physical disability including blindness or mental
retardation u/s 80U is:
a) Rs: 75,000.
b) Rs: 1,20,000.
c) Rs: 50,000.
d) Rs: 90,000.
Ans:
a) Rs: 75,000.
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29.
Income of minor is clubbed however the clubbing provision is not applicable if:
a) Minor is a married daughter
b) Minor is handicapped as specified u/s
80U
c) Parents are separated
d) None of the above
Ans:
b) Minor is handicapped as specified u/s 80U
30.
Contribution to RPF is deducted u/s:
a) 80C.
b) 80D.
c) 80E.
d) 80G.
Ans:
a) 80C.
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