Tax Planning and Management MCQs Quiz Multiple Choice Questions & Answers

Tax Planning and Management MCQs questions answers


Test Your Skills in Tax Planning and Management Quiz Online

Embark on a journey through the intricate world of Tax Planning and Management with our extensive collection of multiple-choice questions and answers. Whether you're a finance enthusiast seeking to navigate the complexities of tax laws, a tax professional devising strategies to optimize tax liabilities, or a business owner aiming to enhance tax efficiency, our repository offers invaluable insights. Explore various aspects of tax planning and management including tax-saving instruments, deductions, exemptions, tax compliance, and tax optimization strategies. Each multiple-choice question is meticulously crafted to challenge your understanding and stimulate critical thinking about the nuances of tax planning and management. From understanding the latest tax reforms to devising effective tax strategies, our MCQs provide a comprehensive exploration of all facets of Tax Planning and Management. Start exploring today to deepen your knowledge and excel in managing tax affairs effectively!

Tax Planning and Management Questions with Answers

1. ..............is a casual income

2. ..............is the implementation of the plan of tax

3. .............is exempted from income tax.

4. ..........refers to hedging of tax?

5. .........deals with PAN

6. 80 ID deals with tax holiday for

7. A company carry forward the eligible tax credit under MAT for a maximum of

8. A company in which the public are not substantially interested is closed

9. A company in which the public is not substantially interested is known as

10. A company which is neither an Indian company not has made the prescribed arrangements for the declaration and payment of dividends within India is called

11. A person carrying not less than............of the voting power in a company is said to have substantial interest in the company.

12. A short term capital asset means a capital asset held by the assesse for not more than

13. Alternate Minimum Tax shall not be applicable to a non-corporate assessee who has claimed any deduction under:

14. Amendments by the finance act are made applicable from

15. An assessee incurred expense of tax on non monetary perquisites of employees. Such expenditure shall be considered as

16. An assessee paid insurance premium against risk of damage or destruction of stocks or stores used for the purposes of his business or profession. Such expenditure shall be considered as

17. An assessee was engaged in the business of cattle rearing. He incurred a loss in respect of animals which were used for the purposes of his business (otherwise Such expenditure shall be considered as than as stock-in trade) and which have die

18. An assessee was engaged in the business of dealing in commodities. He had paid Commodities transaction tax of Rs.15,000 in respect of the taxable commodities transactions. Income arising of Rs 3,00,000 from such taxable commodities transactions was included in the income computed under the head Profits and gains of business or profession. Such expenditure of payment of Commodities transaction tax shall be considered as

19. Any company which has made the prescribed arrangements for the declaration and payment of dividends within India is called

20. Any corporation by or under any Central, State or Provincial Act or a Government Company as defined in the Companies Act is called

21. As per section 2(31), the following is not included in the definition of person

22. As per section 30, which expenditure incurred for a building used for the business or profession shall not be allowed as deduction?

23. Assessee is having stock existing in the business. Valuation of stock will be at

24. Availing tax holiday by a new industrial undertakings in backward areas is a case of

25. CBDT stands for

26. Clubbing of income means

27. Company is defined under

28. Compliance of the legal requirements in connection with the tax is the essence of

29. Compliance with legal formalities and availing tax incentives are cases of

30. Concealment of income or false claims to reduce tax liability are cases of

31. Deemed dividend is defined in

32. Dividend from an Indian Company is

33. Donation is deductible under section

34. Educational cess is levied in case of

35. Expenditure incurred by an hotelier on replacement of linen and carpets in his hotel. Such expenditure shall be considered as

36. Flat rate of corporate tax for a domestic company with annual turnover more than Rs250 crore is

37. Flat rate of corporate tax for a domestic company with annual turnover up to Rs250 crore is

38. Flat rate of corporate tax for a foreign company is

39. Group of assets falling within a class of assets comprising of tangible & intangible assets is known as :

40. If the tax liability of a company is less than 18.5% of its book profits, the company is liable to pay MAT at the rate of

41. In accordance with the provisions of Section 17(1) of Income Tax Act, 1961, the term salary includes

42. Income distributed by a fund other than a money market mutual fund or a liquid fund to an individual or HUF is subject to CDT at the rate of

43. Income distributed by a money market mutual fund or liquid fund is taxable @.........

44. Income from horse race falls under the head

45. Income tax rates are fixed in

46. Indexation is applicable to

47. It is the device which satisfies the requirements of the law but not in accordance with the intentions of the law

48. Long term capital loss can be set off against

49. MAT Provisions are applicable to

50. Minors income is clubbed to

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