Tax Planning and Management Quiz Question with Answer


31. Deemed dividend is defined in

  1. Section 2 (22)(a)
  2. Section 2 (21)(a)
  3. Section 2 (23)(a)
  4. Section 2 (22)(c)

32. Dividend from an Indian Company is

  1. Fully Taxable
  2. Partly Taxable
  3. Fully Exempted
  4. None of these

33. Donation is deductible under section

  1. 80 C
  2. 80D
  3. 80 E
  4. 80 G

34. Educational cess is levied in case of

  1. Individual
  2. HUF
  3. Company
  4. All assesses

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

  1. Revenue expenditure
  2. Deferred revenue expenditure
  3. Capital expenditure
  4. Illegal expenditure

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

  1. 15%
  2. 25%
  3. 30%
  4. 35%

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

  1. 15%
  2. 25%
  3. 30%
  4. 35%

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

  1. 15%
  2. 25%
  3. 30%
  4. 40%%

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

  1. Group of assets
  2. Block of assets
  3. Set of assets
  4. Cluster of assets

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

  1. 15% of books profits plus Surcharge) if any) plus 4% HEC
  2. 16% of books profits plus Surcharge)if any) plus 4% HEC
  3. 16.5% of books profits plus Surcharge)if any) plus 4% HEC
  4. 18.5% of books profits plus Surcharge(if any) plus 4% HEC

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