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-3
Each section contains 100 MCQs on
Income Tax and Corporate Tax .
Which of the following statements are correct?
1. Provision made for sales tax is admissible deduction.
2. Wealth tax paid by a company is a deductible expense.
3. Contribution to a political party is a deductible expense.
Select the correct answer using the options given below
An assesse resides in his own house the valuation of which is Rs. 50 lakh and fair rent is Rs. 1 Lakh p.a. Annual value of house for the purpose of income tax will be:
