Income Tax And Corporate Tax - Practice Test

[#366] Which is an indirect tax?

(A) Sales tax

(B) Income tax

(C) Toll tax

(D) All of these

Correct Answer

(A) Sales tax

[#367] Return filed after the due date is called:

(A) Revised return

(B) Best return

(C) Belated return

(D) Defective return

Correct Answer

(C) Belated return

[#368] If payment of royalty is paid outside India and no tax at source has been deducted, then such expenses will be

(A) allowed as deduction

(B) disallowed

(C) exempt

(D) None of these

Correct Answer

(B) disallowed

[#369] Unilateral relief means a method of providing relief from double taxation in which

(A) home country of the taxpayer provides tax relief, where no mutual agreement has been entered into by the two countries for providing relief from double taxation

(B) government of two countries, enter into an agreement to provide relief against double taxation on mutually agreed basis

(C) Both A and B

(D) None of the above

Correct Answer

(A) home country of the taxpayer provides tax relief, where no mutual agreement has been entered into by the two countries for providing relief from double taxation

[#370] Which of the following statements are true in context of surcharge on Income tax?

(A) Income Tax surcharge is an additional charge payable on income tax

(B) Income Tax surcharge is an added tax on the taxpayers having a higher income inflow during a particular financial year

(C) The surcharge depends upon the Income Tax slabs

(D) All of the above

Correct Answer

(D) All of the above

Income Tax And Corporate Tax - Study Mode

[#366] Which is an indirect tax?

Correct Answer

[#367] Return filed after the due date is called:

Correct Answer

[#368] If payment of royalty is paid outside India and no tax at source has been deducted, then such expenses will be

Correct Answer

[#369] Unilateral relief means a method of providing relief from double taxation in which

Correct Answer

[#370] Which of the following statements are true in context of surcharge on Income tax?

Correct Answer