AIBE PYQs for Income Tax Law and Accounts with Solutions: Practice AIBE Previous Year Questions

Updated 3+ months ago

Income Tax Law and Accounts is an important topic in the Legal Studies section in AIBE exam. Practising this topic will increase your score overall and make your conceptual grip on AIBE exam stronger.

This article gives you a full set of AIBE PYQs for Income Tax Law and Accounts with explanations for effective preparation. Practice of AIBE Legal Studies PYQs including Income Tax Law and Accounts questions regularly will improve accuracy, speed, and confidence in the AIBE 2025 exam.

AIBE PYQs for Income Tax Law and Accounts with Solutions

1.
An appeal to the High Court against the order of ITAT should be filed within
- 45 days when the order is communicated
- 60 days when the order is communicated
- 90 days when the order is communicated
- 120 days when the order is communicated
View Solution
2.
Rent-free accommodation provided by an employer to an employee is ............
- Allowance under Section 10(13A) of the Income Tax Act
- Allowance under Section 10(1) of the Income Tax Act
- Perquisite as per Section 17(2) of the Income Tax Act
- Perquisite as per Section 16(2) of the Income Tax Act
View Solution
3.
For the first time in India Income Tax was introduced by Sir James Wilson in the year:
- 1886
- 1868
- 1860
- None of the Above
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4.
'Income' is defined under Section 24 of the Income Tax Act, as
- Profits and gains
- Dividend
- Voluntary contribution received by a Trust for charitable Purpose
- All of the above
View Solution
5.
For an individual to be deemed resident in India in any previous year, one of the condition is:
- If he is in India for a period of 182 days or more during the previous year.
- If he is in India for a period of 180 days or more during the previous year.
- If he is in India for a period of 181 days or more during the previous year.
- If he is in India for a period of 360 days or more during the previous year.
View Solution
6.
Under Section 24(a) of the Income-tax Act, 1961, what percentage of the annual value of an income from house property is allowed as a standard deduction?
- 20
- 40
- 30
- 50
View Solution
7.
Read the given statements and choose the correct option.
Statement 1: Under the Income-tax Act, 1961, a deduction equal to 30% of the annual value is allowed while computing income from house property.
Statement 2: Where the property has been acquired or constructed with borrowed capital, the maximum deduction for interest payable on such capital is capped at ₹2,00,000, subject to conditions.
- Both Statements 1 and 2 are false
- Only Statement 1 is true
- Only Statement 2 is true
- Both the Statements are true
View Solution
8.
Mr. Kapoor purchased a residential house in January, 2021 for Rs. 80,00,000. He sold the house in April, 2022 for Rs. 94,00,000. In this case, the gain of Rs. 14,00,000 arising on account of sale of residential house will be charged to tax under which of the following head?
- Income from capital gains
- Income from house property
- Income from profits and gains from business or profession
- Income from other sources
View Solution
9.
The term “Income” is described in the Income Tax Act, 1961 under ...........
- Section 3
- Section 10E
- Section 2(24)
- Section 2(40)
View Solution
10.
Mr. X deposits ₹65,000 in a term deposit of 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 of the Income Tax Act, 1961. On the basis of the above problem, select the correct option:
- No tax deduction can be availed under Section 80C
- It is an unlawful act to treat a personal expenditure
- Mr. X is guilty of tax evasion/tax avoidance
- Mr. X is not guilty of either tax evasion/tax avoidance
View Solution
11.
Income Tax Act was enacted in
- 1951
- 1961
- 1971
- None of the above
View Solution
12.
Section 154 under IT Act is
- For filing return of Income
- For filing return with late fee
- Rectification of mistakes
- Appeal against the order passed by the ITO
View Solution
13.
Permanent Account Number (PAN) is defined under
- Wealth Tax
- GST
- Income Tax Act 1961
- Finance Act 1992
View Solution
14.
In case of a co-operative society the maximum amount on which income tax is not chargeable is
- 50,000
- 30,000
- 20,000
- Nil
View Solution
15.
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 Non-Agricultural Income exceeding the Basic Exemption limit and Agricultural Income exceeding ₹5000 is determined by the Scheme of Partial Integration of Non-Agricultural Income with Agricultural Income.
- Only statement 2 is true
- Both the Statements are incorrect
- Both the Statements are correct
- Only Statement 1 is true
View Solution

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AIBE PYQs for Income Tax Law and Accounts with Solutions: Practice AIBE Previous Year Questions

AIBE PYQs for Income Tax Law and Accounts with Solutions

1.
An appeal to the High Court against the order of ITAT should be filed within

2.
Rent-free accommodation provided by an employer to an employee is ............

3.
For the first time in India Income Tax was introduced by Sir James Wilson in the year:

4.
'Income' is defined under Section 24 of the Income Tax Act, as

5.
For an individual to be deemed resident in India in any previous year, one of the condition is:

6.
Under Section 24(a) of the Income-tax Act, 1961, what percentage of the annual value of an income from house property is allowed as a standard deduction?

8.
Mr. Kapoor purchased a residential house in January, 2021 for Rs. 80,00,000. He sold the house in April, 2022 for Rs. 94,00,000. In this case, the gain of Rs. 14,00,000 arising on account of sale of residential house will be charged to tax under which of the following head?

9.
The term “Income” is described in the Income Tax Act, 1961 under ...........

10.
Mr. X deposits ₹65,000 in a term deposit of 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 of the Income Tax Act, 1961. On the basis of the above problem, select the correct option:

11.
Income Tax Act was enacted in

12.
Section 154 under IT Act is

13.
Permanent Account Number (PAN) is defined under

14.
In case of a co-operative society the maximum amount on which income tax is not chargeable is

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AIBE PYQs for Income Tax Law and Accounts with Solutions

1.An appeal to the High Court against the order of ITAT should be filed within

2.Rent-free accommodation provided by an employer to an employee is ............

3.For the first time in India Income Tax was introduced by Sir James Wilson in the year:

4.'Income' is defined under Section 24 of the Income Tax Act, as

5.For an individual to be deemed resident in India in any previous year, one of the condition is:

6.Under Section 24(a) of the Income-tax Act, 1961, what percentage of the annual value of an income from house property is allowed as a standard deduction?

8.Mr. Kapoor purchased a residential house in January, 2021 for Rs. 80,00,000. He sold the house in April, 2022 for Rs. 94,00,000. In this case, the gain of Rs. 14,00,000 arising on account of sale of residential house will be charged to tax under which of the following head?

9.The term “Income” is described in the Income Tax Act, 1961 under ...........

10.Mr. X deposits ₹65,000 in a term deposit of 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 of the Income Tax Act, 1961. On the basis of the above problem, select the correct option:

11.Income Tax Act was enacted in

12.Section 154 under IT Act is

13.Permanent Account Number (PAN) is defined under

14.In case of a co-operative society the maximum amount on which income tax is not chargeable is

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1.
An appeal to the High Court against the order of ITAT should be filed within

2.
Rent-free accommodation provided by an employer to an employee is ............

3.
For the first time in India Income Tax was introduced by Sir James Wilson in the year:

4.
'Income' is defined under Section 24 of the Income Tax Act, as

5.
For an individual to be deemed resident in India in any previous year, one of the condition is:

6.
Under Section 24(a) of the Income-tax Act, 1961, what percentage of the annual value of an income from house property is allowed as a standard deduction?

8.
Mr. Kapoor purchased a residential house in January, 2021 for Rs. 80,00,000. He sold the house in April, 2022 for Rs. 94,00,000. In this case, the gain of Rs. 14,00,000 arising on account of sale of residential house will be charged to tax under which of the following head?

9.
The term “Income” is described in the Income Tax Act, 1961 under ...........

10.
Mr. X deposits ₹65,000 in a term deposit of 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 of the Income Tax Act, 1961. On the basis of the above problem, select the correct option:

11.
Income Tax Act was enacted in

12.
Section 154 under IT Act is

13.
Permanent Account Number (PAN) is defined under

14.
In case of a co-operative society the maximum amount on which income tax is not chargeable is