Income Tax And Corporate Tax - Study Mode
[#371] Notice of demand is served under which Section?
Correct Answer
(D) 156
[#372] The depreciation on the assets in case of new plant and machinery is:
Correct Answer
(A) Depreciation sum equals to 20% of the actual cost of new plant and machinery
[#373] Match the following. List-I List-II a. Amount deposited in PPF 1. 80-IA b. Profits and gains from undertakings engaged in infrastructure development 2. 80-G c. Contribution to National Defence Fund 3. 80-IAB d. Profits and gains by an undertaking engaged in the development of special economic zone 4. 80-C
Correct Answer
(B) a-4, b-1, c-2, d-3
[#374] Usually there is a tendency among MNCs to adjust their international transactions in such a way that maximum profit arises in that country where the rate of tax is lowest and minimum profit arises in that country where the rate of tax is highest. Thus, there may be chances that MNC escape tax in those countries where the tax rate is more by adjusting their international transaction and declaring lesser profits in such country. This is called as the issue of:
Correct Answer
(A) Transfer Pricing
[#375] Family pension is taxable under the head
Correct Answer
(B) income from other sources