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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-9 section-4

Each section contains 100 MCQs on Income Tax and Corporate Tax .
81
An art of lodging tax without actually breaking the law is:
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Answer & Solution
Answer: Option A
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82
The rate of depreciation on intangible assets is
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Answer: Option B
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83
A perk is:
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Answer & Solution
Answer: Option B
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84
Assessee other than companies having income under PGBP are required of file return in
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Answer & Solution
Answer: Option B
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85
No tax is to be deducted at source, where the aggregate amount of such interest to be paid or credited to the account of payee during the financial year does not exceed
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Answer & Solution
Answer: Option D
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86
Which of the following are allowed as 100% deduction?
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Answer & Solution
Answer: Option D
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87
Under alternate tax regime, which of the following statement is correct?
(1) Individual assessee can opt for the alternative tax regime u/s 115 BAC.
(2) Total income is computed without availing of blocked incentives.
Select the correct answer from the options given below:
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Answer & Solution
Answer: Option B
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88
In the tax avoidance, the provisions law
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Answer: Option B
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89
Which of the following investment or payments is not eligible for deduction u/s 80C of Income Tax Act 1961?
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Answer & Solution
Answer: Option D
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90
Which of the following item is exempt from Income tax that is otherwise paid on all other items?
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Answer & Solution
Answer: Option A
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