Income Tax and Corporate Tax MCQ Questions and Solutions with Explanations | Commerce
Income Tax and Corporate Tax MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Income Tax and Corporate Tax MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-5 section-8
Each section contains 100 MCQs on
Income Tax and Corporate Tax .
Section 111A is applicable in case of STCG arising on transfer of equity shares through recognized stock exchange and such transaction is liable to securities transaction tax. STCG covered under section 111A is charged to tax at the rate of:
Donation made to following are eligible for 100% deduction without any qualifying limit.
1. National Defence Fund set-up by the Central Government
2. National Sports Fund set-up by the Central Government
3. Jawaharlal Nehru Memorial Fund
4. National Illness Assistance Fund
5. National Children's Fund
Select the correct answer using the options given below
An equipment was acquired at a cost of Rs. 10 lakh and was put to use in Scientific Research. After one year of research the equipment was brought into another business of the assessee. For charging depreciation, block of assets shall be increased by:
