Income Tax and Corporate Tax MCQ Questions and Solutions with Explanations | Commerce

A. before tax management

B. after tax management

C. during tax management

D. never

A. Two or more unrelated enterprises either or both of whom are residents in India

B. Two or more associated enterprises, either or both of whom are residents in India

C. Two or more associated enterprises, either or both of whom are non-residents or not in India

D. None of the above

A. 10%

B. 40%

C. 60%

D. 90%

A. The assessee must be resident of India during the previous year in respect of which the income is taxable

B. The income accrues or arises to the assessee outside India

C. The assessee has not paid tax on the income in the foreign country

D. The income isn't deemed to accrue or arise in India

A. 145

B. 155

C. 263

D. 175

A. an individual

B. an individual spouse

C. any child of such individual, children may be married/unmarried, dependent/not dependent

D. All of the above

A. Salary

B. Profit from business and profession

C. Capital gain

D. Income from other source

A. Loss from non-speculative business can be set off against speculation income

B. Loss from non-speculative business cannot be set off against speculation income

C. Profit from non-speculative business can be set off against speculation income

D. None of the above

A. Any rent received from land which is used for agricultural purpose

B. Any income derived from such land by agricultural operations

C. Income attributable to farm house

D. All of the above

A. Capital loss

B. Business loss (speculative or otherwise)

C. Loss from the activity of owing and maintaining race horses

D. All of the above