Tax Planning and Management MCQ Multiple Choice Questions - Page 2 for Practice

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

51. PAN stands for

52. Pension is................under the salary head.

53. Preliminary expenses incurred are allowed deduction in:

54. Previous year means the financial year immediately preceding the

55. Profits earned from an illegal business are

56. Reducing tax liability, utilizing the deductions, exemptions or reliefs allowed in the Act and Rules is called

57. Return filed after the due date is called

58. Return of income must be furnished on or beforethe due date as per a part of

59. salary of Member of Parliament is taxable under the head

60. Section 115JB relates to


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Multiple Choice Questions and Answers on Tax Planning and Management

Tax Planning and Management Multiple Choice Questions and Answers

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