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-1 section-9
Each section contains 100 MCQs on
Income Tax and Corporate Tax .
Consider the following conditions:
I. An individual is in India for a period of 182 days in the financial year in which he is getting his salary income.
II. An individual is in India for a period of 60 days or more during financial year in which he gets his salary and 365 days or more during 4 years immediately preceding to that financial year.
If one of the above conditions is satisfied, as per the provisions of Income Tax Act, 1961, he is:
Which of the following are true in tax planning?
(i) It is futuristic in its approach.
(ii) It has limited scope compared to tax management.
(iii) The benefits arising from it are limited particularly in the short run.
(iv) Its main objective is to reduce the tax liability.
Consider the following statements.
1. Concealment of income is a step of tax evasion.
2. Tax evasion is a immoral process.
3. Tax planning is long and short-term.
Which of the statement(s) given above is/are correct?
