Taxation and Corporate Taxation Quiz | Taxation and Corporate Taxation Online Test for Practice

31. A company can file an appeal to the Commissioner of Income Tax (Appeals) within how many days from the date of the assessment order?

1. 15 days
2. 30 days
3. 60 days
4. 90 days

32. Which of the following taxes is imposed on the sale of goods?

1. Income Tax
2. VAT
3. Excise Duty
4. Stamp Duty

33. What is the tax rate for short-term capital gains under section 111A of the Income Tax Act for listed equity shares?

1. 10%
2. 15%
3. 20%
4. 30%

34. Which of the following is a form of indirect tax?

1. Income Tax
2. Corporate Tax
3. Goods and Services Tax (GST)
4. Property Tax

35. What does "Tax Deducted at Source" (TDS) mean?

1. Tax paid by the taxpayer on behalf of the government
2. Tax paid by the employer on behalf of the employee
3. Tax withheld by the payer while making payments
4. Tax collected directly by the government

36. Which of the following is not a taxable event under GST?

1. Sale of goods
2. Import of goods
3. Export of goods
4. Sale of agricultural products

37. A company must file its GST return by which date every month?

1. 10th
2. 20th
3. 30th
4. 15th

38. In India, which organization is responsible for the administration of income tax laws?

1. Reserve Bank of India
2. Central Board of Indirect Taxes and Customs (CBIC)
3. Income Tax Department
4. Ministry of Finance

39. Under which section of the Income Tax Act, 1961, is corporate tax levied?

1. Section 115B
2. Section 143
3. Section 115JB
4. Section 10

40. Which of the following is a type of income exempt from tax under section 10 of the Income Tax Act?

1. Agricultural income
2. Capital gains
3. Business income
4. Salary

41. A company is liable to pay corporate tax if its total income exceeds:

1. Rs. 2 lakh
2. Rs. 5 lakh
3. Rs. 10 lakh
4. Rs. 1 crore

42. The Goods and Services Tax (GST) is administered by which body in India?

1. Ministry of Commerce
2. Central Board of Indirect Taxes and Customs (CBIC)
3. Ministry of Finance
4. Reserve Bank of India