Tax Planning and Management Objective Question and Answer
Tax Planning and Management MCQ Multiple Choice Questions - Page 5 for Practice
Tax Planning and Management MCQ Questions for Practice
61. Section 115JB relates to
Correct Answer is: MAT
62. Section 2 (234) relates to
Correct Answer is: Foreign company
63. Section 2(9) of Income tax deals with
Correct Answer is: Assessment Year
64. Section 80 JJAA deals with
Correct Answer is: Deduction in respect of employment of new employee
65. Subletting is assessable under the head
Correct Answer is: Income from Other Source
66. Substantial interest in the company means not less than.........of voting power
Correct Answer is: 20%
67. Tax avoidance is
Correct Answer is: Immoral
68. Tax deduction available to certain industries for the initial few years is called
Correct Answer is: Tax Holiday
69. The books of accounts are to be kept and maintained for a period of how many years from the end of the relevant assessment year.
Correct Answer is: 6 years
70. The employer made a contribution of Rs 25,000 to recognized provident fund for the previous year 2018-19. Such payment was made on 12th March, 2019. Such expenditure shall be considered as
Correct Answer is: Revenue expenditure
71. The inclusion of income of other person in the income of assesseeis called
Correct Answer is: Clubbing
72. The Income Tax Act came into force from
Correct Answer is: 1st April 1962
73. The loss from speculation business can be set off against
Correct Answer is: Speculative business only
74. The maximum deduction available under section 80 C is
Correct Answer is: Rs150000
75. The method by which a person illegally reduces his tax burden by either deflating their income or inflating their expenses is known as
