Income Tax And Corporate Tax - Study Mode

Show All Answers

[#346] The term 'person' includes . . . . . . . . as per Income Tax Law.

(A) An individual

(B) A HUF

(C) A company

(D) All of these

Correct Answer

(D) All of these

[#347] Given is the information related to a house: Municipal Value (M.V.) Rs. 1,50,000 Fair Rent Rs. 1,80,000 Standard Rent Rs. 1,60,000 Actual Rent Rs. 20,000 p.m. Municipal tax paid by owner is 20% of M.V. Unrealised rent Rs. 40,000 (conditions of rule 4 satisfied). What is the annual value of the house?

(A) Rs. 1,50,000

(B) Rs. 1,60,000

(C) Rs. 1,70,000

(D) Rs. 2,10,000

Correct Answer

(C) Rs. 1,70,000

[#348] The objective of transfer pricing is to . . . . . . . . within an organisation.

(A) minimise cost

(B) achieve economic efficiency

(C) maximise benefit

(D) None of the above

Correct Answer

(B) achieve economic efficiency

[#349] The maximum aggregate amount of deduction under sections 80C, 80CCC and 80CCD cannot exceed:

(A) Rs. 1,10,000

(B) Rs. 2,00,000

(C) Rs. 1,50,000

(D) Nil

Correct Answer

(C) Rs. 1,50,000

[#350] Match the following. List-I List-II a. ITR-2 1. For a company other than a company claiming exemption under Section 11 b. ITR-6 2. For presumptive business income covered under Section 44AD and 44AE c. ITR-7 3. For a person including a company whether or not registered under Section 25 of the Companies Act. 1956 d. ITR-4S SUGAM 4. For individual and HUF not having income from business of profession

(A) a-4, b-1, c-2, d-3

(B) a-4, b-1, c-3, d-2

(C) a-3, b-2, c-4, d-1

(D) a-2, b-1, c-4, d-3

Correct Answer

(B) a-4, b-1, c-3, d-2