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-2
Each section contains 100 MCQs on
Income Tax and Corporate Tax .
Every salaried person as per labour law is entitled to a minimum number of paid leave every year. However, it is not necessary that an individual employee utilises all the leave he is entitled for a year. Which of the following acts has the provision of 'encashment of earned leave' under Income Tax Act, 1961?
Under which of the following situations, the Appellate Tribunal can rectify the mistake in the order passed by it under Sec 254(2) of Income Tax Act?
(1) If subsequent decision of the Supreme Court/High Court is available on the subject after the Appellate Tribunal's order
(2) If an assessee applies for rectification of the Tribunal's order by raising fresh grounds before the Tribunal
(3) If the omission or mistake is on the part of Appellate Tribunal
(4) If the order is passed by the Appellate Tribunal under an erroneous impression of fact or law
If the agricultural income of the female taxpayer is Rs. 8,000. His agricultural income will be added to his total income if the total income is more than the following
What will be the amount of statutory deduction on income from salary of a person whose salary income exceeds Rs. 3,00,000 for the assessment year 2006-07?
