61.
Flat rate of corporate tax for a foreign company is
A
15%
B
25%
C
30%
D
40%%
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Flat rate of corporate tax for a foreign company is
15%
25%
30%
40%%
Flat rate of corporate tax for a domestic company with annual turnover up to Rs250 crore is
15%
25%
30%
35%
Flat rate of corporate tax for a domestic company with annual turnover more than Rs250 crore is
15%
25%
30%
35%
Expenditure incurred by an hotelier on replacement of linen and carpets in his hotel. Such expenditure shall be considered as
Revenue expenditure
Deferred revenue expenditure
Capital expenditure
Illegal expenditure
Educational cess is levied in case of
Individual
HUF
Company
All assesses
Donation is deductible under section
80 C
80D
80 E
80 G
Dividend from an Indian Company is
Fully Taxable
Partly Taxable
Fully Exempted
None of these
Deemed dividend is defined in
Section 2 (22)(a)
Section 2 (21)(a)
Section 2 (23)(a)
Section 2 (22)(c)
Concealment of income or false claims to reduce tax liability are cases of
Tax evasion
Tax planning
Tax avoidance
Tax management
Compliance with legal formalities and availing tax incentives are cases of
Tax evasion
Tax planning
Tax avoidance
Tax management
Compliance of the legal requirements in connection with the tax is the essence of
Tax evasion
Tax planning
Tax avoidance
Tax management
Company is defined under
Section 2 (17)of the Income Tax Act
Section 2 (32)of the Income Tax Act
Section 2 (14)of the Income Tax Act
Section 2 (12)of the Income Tax Act
Clubbing of income means
Adding income of two persons
Inclusion of income of other person in assessees income
Total income of various heads
Collection of income
CBDT stands for
Central Bureau of Direct Taxes
Central Board of Direct Taxes
Citizens Board of Direct Taxes
Citizens Bureau of Direct Taxes
Availing tax holiday by a new industrial undertakings in backward areas is a case of
Tax evasion
Tax planning
Tax avoidance
Tax management
Assessee is having stock existing in the business. Valuation of stock will be at
Cost price
Market price
Cost or market price, whichever is less
Cost or market price, whichever is more
As per section 30, which expenditure incurred for a building used for the business or profession shall not be allowed as deduction?
Rent, rates and taxes
Insurance of building
Repairs of building
Capital expenditure
As per section 2(31), the following is not included in the definition of person
An individual
A Hindu undivided family
A company
A minor
Any corporation by or under any Central, State or Provincial Act or a Government Company as defined in the Companies Act is called
Public Sector Company
Joint company
Private Sector company
Provincial Company
Any company which has made the prescribed arrangements for the declaration and payment of dividends within India is called
Domestic Company
Non domestic company
Public sector company
Provincial company