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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-8 section-5

Each section contains 100 MCQs on Income Tax and Corporate Tax .
71
Which of the following approaches does India follow in relation to secondary adjustments?
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Answer: Option C
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72
Which of the following sections related to clubbing of income?
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Answer: Option C
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73
If the taxable income of a domestic company for the assessment year 2019-20 is Rs. 9,00,000, its tax liability will be
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Answer: Option B
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74
Due date of furnishing return of income in case of a company is
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Answer: Option D
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75
The definition of the person includes:
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Answer: Option A
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76
'Arm's length price' means a price which is applied or proposed to be applied in a transaction:
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Answer: Option A
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77
The cost of own asset is . . . . . . . . in computing the income.
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Answer: Option B
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78
Who is liable to pay tax is called?
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Answer: Option A
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79
Indicate the correct answer for forms for filing income tax return from the following income tax return forms.
1. ITR-4S
2. ITR-2
3. ITR-2B
4. ITR-3
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Answer: Option C
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80
Form 15G or 15H shall not be valid if it does not contain the PAN of the declarant. In case any declaration becomes invalid, the deductor shall deduct the tax
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Answer: Option C
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