Income Tax And Corporate Tax - Study Mode
[#646] Which of the following provision under Income Tax Act, 1961 reflects for the set off loss from one head against income from another head is given?
Correct Answer
(C) Section 72
[#647] Mr James, a citizen of US, arrived in India for the first time on 1 st July, 2018 and left for Nepal on 15 th December, 2018. He arrived to India again on 1 st January, 2019 and stayed till the end of the financial year 2018-19. His residential status for the assessment year 2019-20 is
Correct Answer
(B) not ordinarily resident
[#648] When compared to a multilateral transfer pricing agreement. What is the main advantage of a unilateral agreement?
Correct Answer
(A) It will eliminate the need to keep transfer pricing documentation
[#649] Which of the following would not be considered as a permanent home in context of tie-breaker rule for dual residency?
Correct Answer
(B) Hotel accommodation provided for the purpose of prolonged employment
[#650] Who do people often define to tax evasion?
Correct Answer
(D) As a crime against the taxpayer