What is the term for the 12-month cycle starting in April and ending in March for which taxes are calculated in India?

"Financial Year" "Assessment Year" "Tax Year" "Fiscal Year"

In the Indian tax system, what is the name for the year in which you file your tax return for the previous year's income?

"Financial Year" "Assessment Year" "Tax Filing Year" "Previous Year"

Which of the following is NOT a source of income considered for tax calculation in India?

"Salary Income" "Income from House Property" "Income from Lottery Winnings" "Income from Capital Gain"

What is the maximum amount that can be deducted from gross income under Section 80C of the Income Tax Act in India?

"Rs. 1,00,000" "Rs. 1,50,000" "Rs. 2,00,000" "Rs. 2,50,000"

What does TDS stand for in the Indian tax system?

"Tax Deducted at Source" "Tax Deferred Savings" "Total Deductible Sum" "Tax Deduction Schedule"

Which of the following is NOT a document typically required for filing income tax in India?

"Form 16" "Passport" "PAN Card" "Bank Statements"

What is the standard deduction available from gross total income in India?

"Rs. 25,000" "Rs. 50,000" "Rs. 75,000" "Rs. 1,00,000"