Tax Planning and Management MCQ Multiple Choice Questions - Page 4 for Practice

Tax Planning and Management MCQ Questions for Practice

91. Which of the following donations is eligible for 100 % deduction?

Help to poor
National DefenceFund
Rajive Gandhi Foundation
Any notified temple

Correct Answer is: Any notified temple

Show Answer-91

92. Which of the following is an objective of tax management?

Minimize litigation
Productive investment
Compliance with legal formalities
Healthy growth of economy

Correct Answer is: Healthy growth of economy

Show Answer-92

93. Which of the following is not a capital expense?

Installation expenditure of plant of a company.
Legal expenses for reduction of capital.
Commission to employees to achieve sales Targets.
Expenses of promoting a company.

Correct Answer is: Expenses of promoting a company.

Show Answer-93

94. Which of the following is not taxable under the head income from other sources?

Family pension
Sum received under Keyman Insurance Policy
Rent received on letting of business
Salary to a member of parliament

Correct Answer is: Salary to a member of parliament

Show Answer-94

95. Which of the following shall not be regarded as capital asset?

Jewellery
Rural Agricultural land
Archaeological Collections
Paintings

Correct Answer is: Paintings

Show Answer-95

96. Which of the following taxes are allowed as deduction while computing the business income?

Wealth-tax
Income-tax
Sales tax
None of the above

Correct Answer is: None of the above

Show Answer-96

97. Which one of the following is is the casual income

Interest received
Dividend income
Pension received
Winning from lotteries

Correct Answer is: Pension received

Show Answer-97

98. Whichof the following deals with Domestic Company?

Sec 2 (234)
Sec 2 (224)
Sec 2 (22)
Sec 2 (26)

Correct Answer is: Sec 2 (26)

Show Answer-98

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