Income Tax And Corporate Tax - Practice Test

[#141] The awards and rewards are exempted from Income Tax if:

(A) Payment is in cash

(B) Payment is in kind

(C) Payment is in cash or in kind

(D) None of the above

Correct Answer

(C) Payment is in cash or in kind

[#142] Which of the following section deals with the provisions relating to deduction of tax at source on interest other than interest on securities paid to a resident?

(A) 192

(B) 193

(C) 195

(D) 194A

Correct Answer

(D) 194A

[#143] Under Section 80CCD, we need to consider the following point/s?

(A) Salary income is chargeable to tax on 'due basis' or 'receipt basis' which ever is earlier

(B) Existence of relationship of employer and employee is must between the payer and payee to tax the income under this head

(C) Income from salary taxable during the year shall consists of the salary due from employer, salary paid by employer (including former employer), arrear of salary paid by the employer (including former employer) for the relevant periods

(D) All of the above

Correct Answer

(D) All of the above

[#144] Taxpayers with total income of more than which of the following amount shall furnish the return of income electronically with or without digital signature or by using electronic verification code? However, in a case where digital signature is mandatory return is to be mandatorily digital signed.

(A) 2,500,000

(B) 1,500,000

(C) 1,000,000

(D) 500,000

Correct Answer

(D) 500,000

[#145] Tax planning opportunities arise due to difference in . . . . . . . . amongst various countries.

(A) tax rates

(B) tax exemptions

(C) Both A and B

(D) Neither A nor B

Correct Answer

(C) Both A and B

Income Tax And Corporate Tax - Study Mode

[#141] The awards and rewards are exempted from Income Tax if:

Correct Answer

[#142] Which of the following section deals with the provisions relating to deduction of tax at source on interest other than interest on securities paid to a resident?

Correct Answer

[#143] Under Section 80CCD, we need to consider the following point/s?

Correct Answer

Correct Answer

[#145] Tax planning opportunities arise due to difference in . . . . . . . . amongst various countries.

Correct Answer