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-9 section-1
Each section contains 100 MCQs on
Income Tax and Corporate Tax .
Which of the following form is applicable to a company, other than a company claiming exemption under section 11 (exemption under section 11 can be claimed by charitable/religious trust)?
The scheme of advance rulings was introduced by the Finance Act, 1993. Chapter XIX-B of the Income-tax Act, which deals with advance rulings, came into force with effect from:
The advance ruling pronounced by the Authority for Advance Ruling as per section 245 is binding:
(1) in respect of transaction for which ruling has been sought.
(2) on income-tax authorities.
(3) on the applicant.
(4) on all other persons having similar transaction.
Select the correct answer from the option given below.
If a sum of money is gifted by a husband to his wife, income generated there from is taxable in the hands of husband under the clubbing provisions of Section 64(1). Section 64(1) is not applicable, if gift is made by the same person out of the funds of his Hindu Undivided Family in capacity as karta of the family. In such a case it is
