281.
Which tax is levied on the distribution of profits by a company to its shareholders?
A
Corporate tax
B
Dividend Distribution Tax
C
Sales Tax
D
Service Tax
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Which tax is levied on the distribution of profits by a company to its shareholders?
Corporate tax
Dividend Distribution Tax
Sales Tax
Service Tax
Under which section can the Income Tax Department reassess the income of a company?
Section 147
Section 115JB
Section 143(3)
Section 10
What is the purpose of tax audits for companies in India?
To reduce corporate taxes
To assess the accuracy of financial statements
To check the income of employees
To prepare the tax return
Which of the following is not a type of corporate tax under the Income Tax Act, 1961?
Income tax
Dividend distribution tax
Capital gains tax
Tax on income from house property
What is the penalty for non-payment of taxes in India?
No penalty
Interest and fines
Only interest
Refund of taxes paid
Which of the following is not a component of direct tax?
Corporate Tax
Income Tax
Wealth Tax
Sales Tax
What is the due date for filing the corporate tax return in India for a company with a financial year ending on March 31st?
June 30th
September 30th
November 30th
December 31st
The minimum alternate tax (MAT) is levied on:
All companies
Companies with zero tax liability
Only foreign companies
Only government companies
What is the corporate tax rate for a foreign company in India?
40%
30%
25%
22%
What is the primary objective of taxation?
To generate revenue for the government
To reduce inflation
To increase income inequality
To increase the consumption of goods
Whichof the following deals with Domestic Company?
Sec 2 (224)
Sec 2 (22)
Sec 2 (26)
Sec 2 (234)
Which one of the following is is the casual income
Dividend income
Pension received
Winning from lotteries
Interest received
Which of the following taxes are allowed as deduction while computing the business income?
Income-tax
Sales tax
None of the above
Wealth-tax
Which of the following shall not be regarded as capital asset?
Rural Agricultural land
Archaeological Collections
Paintings
Jewellery
Which of the following is not taxable under the head income from other sources?
Sum received under Keyman Insurance Policy
Rent received on letting of business
Salary to a member of parliament
Family pension
Which of the following is not a capital expense?
Legal expenses for reduction of capital.
Commission to employees to achieve sales Targets.
Expenses of promoting a company.
Installation expenditure of plant of a company.
Which of the following is an objective of tax management?
Productive investment
Compliance with legal formalities
Healthy growth of economy
Minimize litigation
Which of the following donations is eligible for 100 % deduction?
National DefenceFund
Rajive Gandhi Foundation
Any notified temple
Help to poor
Which is the charging section of income under the head profits and gains of business or profession?
Section 15
Section 24
Section 28
Section 17
Which among the following is not available to companies?
80 IB
80 C
80 G
None of these