Income Tax And Corporate Tax - Study Mode

Show All Answers

[#581] R Ltd, a German company, which is non-resident in India, earned the following income by way of fee for technical services. Advice about the taxability of such income in the hands of R Ltd in India. 1. Government of India paid Rs. 20,00,000 under an agreement, to be used for a project in India. 2. S Ltd, an Indian company, paid Rs. 30,00,000 for the know-how to be used in India. 3. Y Ltd, an Indian company, paid Rs. 40,00,000 for know-how acquired in Germany to be used in China. 4. Z Ltd, a non-resident company paid Rs. 24,00,000 for acquiring a know-how to be used in India for carrying on certain manufacturing business. Select the correct answer using the options given below

(A) 1 and 2 Taxable

(B) Only 1 Taxable

(C) 1, 2 and 4 Taxable

(D) 1, 2 and 3 Taxable

Correct Answer

(C) 1, 2 and 4 Taxable

[#582] DTC is related to:

(A) Tax

(B) Agriculture

(C) Paper

(D) Bank

Correct Answer

(A) Tax

[#583] An Indian citizen who goes abroad for employment shall have to stay in India for atleast how many days to be resident-

(A) 182 days

(B) 90 days

(C) 60 days

(D) 180 days

Correct Answer

(A) 182 days

[#584] As per the following section, every person whose estimated tax liability for the year is Rs. 10,000 or more, shall pay his tax in advance, in the form of 'advance tax'?

(A) 205

(B) 208

(C) 215

(D) 218

Correct Answer

(B) 208

[#585] Quoting of PAN is compulsory in case of sale/purchase of any immovable property valued at

(A) Rs. 5 lakh or more

(B) Rs. 10 lakh or more

(C) Rs. 15 lakh or more

(D) Rs. 20 lakh or more

Correct Answer

(A) Rs. 5 lakh or more