51. Who will sign return of income in case of political party?
52. Taking full advantage of loopholes of law so as to attract least incidence of tax is known as
53. Dividend paid by Indian company outside India as per Section 9(1)(iv) is deemed as
54. The authority for advance ruling in income-tax is appointed by:
55. Under Income Tax Act, the income liable for tax is classified on the basis of
56. Which of the following capital expenditure is not allowed deduction?
57. Which of the following penalty has been prescribed under the Income-tax Law for quoting incorrect Tax Deduction Account Number or Tax Collection Account Number (as the case may be)?
58. What can the worst-case scenario be for a firm that has subsidiaries that use cost-based transfer pricing?
59. Which of the following acts has provision for 'compensation' received on voluntary retirement under Income Tax Act, 1961?
60. X is an individual. For the assessment year 2012-13 his gross total income is Rs. 3,40,000. Tax on it is Rs. 16,480. To reduce his tax liability, he deposits Rs. 50,000 in public provident fund account. Consequently, his taxable income and tax liability will be reduced to Rs. 1,10,000 and Rs. 11,330 respectively.
Read More Section(Income Tax and Corporate Tax)
Each Section contains maximum 100 MCQs question on Income Tax and Corporate Tax. To get more questions visit other sections.
- Income Tax and Corporate Tax - Section 1
- Income Tax and Corporate Tax - Section 2
- Income Tax and Corporate Tax - Section 3
- Income Tax and Corporate Tax - Section 4
- Income Tax and Corporate Tax - Section 5
- Income Tax and Corporate Tax - Section 7
- Income Tax and Corporate Tax - Section 8
- Income Tax and Corporate Tax - Section 9