Income Tax And Corporate Tax - Practice Test

(A) We can claim a deduction of Rs. 1.5 lakh our total income under section 80C

(B) We can reduce up to Rs. 1,50,000 from your total taxable income

(C) The section is available for individuals and HUFs

(D) All of the above

(D) All of the above

(A) Submitting misleading documents

(B) Not maintaining proper accounts of income earned

(C) Suppression of facts

(D) Interpreting the tax law in ones own way to minimise tax liability

(D) Interpreting the tax law in ones own way to minimise tax liability

(A) controlled legal entities within an enterprise

(B) independent entities within an enterprise

(C) Both A and B

(D) Neither A nor B

(A) controlled legal entities within an enterprise

(A) Fully taxable

(B) Partially taxable

(C) Not taxable

(D) None of the above

(C) Not taxable

(A) Be allowed in respect of sum paid by way of cash

(B) Not be allowed if payment made in cash

(C) This type of deduction is not allowed whether payment is in cash or not

(D) Be allowed if payment made in cash, subject to certain conditions

(B) Not be allowed if payment made in cash

Income Tax And Corporate Tax - Study Mode