Vidyalelo
Commerce · all questions

Income Tax and Corporate Tax
practice.

Practice every MCQ with options. Use Show answers when you want the correct option and solution.

816

Questions

18/41

Page

Pick an option on a question to see the right answer and solution.

Deduction under Section 40(b) shall be allowed on account of salary/remuneration paid to

Select an option to see the answer and solution.

If Mr. X received Rs. 14,000 from winning of lottery, then what is the amount of gross income of winning?

Select an option to see the answer and solution.

Match the items of List-I with the items of List-II.
List-I List-II
a. Amount deposited in PPF 1. 80-IA
b. Profits and gains from undertakings engaged in infrastructure development 2. 80-G
c. Contribution to National Defence Fund 3. 80-1AB
d. Profits and gains by an undertaking engaged in the development of Special Economic Zone 4. 80-C

Select an option to see the answer and solution.

TDS on payments to contractor is covered under Section

Select an option to see the answer and solution.

Authors who write books and present the same to publishers can avail deductions under Section 80QQB of the Income Tax Act 1961. The maximum amount available for deduction under this section is:

Select an option to see the answer and solution.

In tax laws, donation to approved and notified association for scientific research is allowed as

Select an option to see the answer and solution.

In regards to tax planning, which of the following is correct?

Select an option to see the answer and solution.

The provisions relating to taxation of indirect transfer of shares of an Indian company were introduced Vide Finance Act, 2012 as a consequence of which of the following decisions of the Supreme Court?

Select an option to see the answer and solution.

The due date for filing return of income of the trust would be

Select an option to see the answer and solution.

Find out the correct one:

Select an option to see the answer and solution.

Amount unutilised in capital gain account scheme for which exemption claimed u/s 54 shall be treated as long-term capital gain, if:

Select an option to see the answer and solution.

Which of the following commodities is kept outside the purview of GST?

Select an option to see the answer and solution.

Which of the following sections of the Income Tax Act deals with interest, royalty, fees for technical services payable outside India or payable to a non-resident?

Select an option to see the answer and solution.

Which of the following statements are true in context of Section 80C of Income Tax Act, 1961?

Select an option to see the answer and solution.

Which one of the following is not an example of tax evasion?

Select an option to see the answer and solution.

Transfer pricing is, arriving at the price for goods and services, which are transacted between

Select an option to see the answer and solution.

Advance salary is taxable and advance against salary is:

Select an option to see the answer and solution.

Deduction in respect of contribution to political party will . . . . . . . .

Select an option to see the answer and solution.

The deduction of life insurance premia, contribution to provident fund, etc. Which of the following section is done under the Income Tax Act, 1961?

Select an option to see the answer and solution.

Income from property held under trust for charitable or religious purposes is:

Select an option to see the answer and solution.