Top 150+ Solved Tax Planning and Management MCQ Questions Answer
Q. Concealment of income or false claims to reduce tax liability are cases of ------
a. Tax evasion
b. Tax planning
c. Tax avoidance
d. Tax management
Q. Using the loopholes of law to reduce tax is known as
a. Tax evasion
b. Tax planning
c. Tax avoidance
d. Tax management
Q. ------ is the device which satisfies the requirements of the law but not in accordance with theintentions of the law
a. Tax evasion
b. Tax planning
c. Tax avoidance
d. Tax management
Q. Reducing tax liability, utilizing the deductions, exemptions or reliefs allowed in the Act andRules is called----
a. Tax evasion
b. Tax planning
c. Tax avoidance
d. Tax management
Q. Compliance of the legal requirements in connection with the tax is the essence of -----
a. Tax evasion
b. Tax planning
c. Tax avoidance
d. Tax management
Q. Availing tax holiday by a new industrial undertakings in backward areas is a case of
a. Tax evasion
b. Tax planning
c. Tax avoidance
d. Tax management
Q. Compliance with legal formalities and availing tax incentives are cases of
a. Tax evasion
b. Tax planning
c. Tax avoidance
d. Tax management
Q. Return of income must be furnished on or beforethe due date as per a part of-----
a. Tax evasion
b. Tax planning
c. Tax avoidance
d. Tax management
Q. The total income of a domestic company is taxable at the rate of -------
a. 20%
b. 30%
c. 40%
d. 35%
Q. The total income of a non domestic company is taxable at the rate of----
a. 20%
b. 30%
c. 40%
d. 35%
Q. Under the Income-tax Act, 1961, which of the following outlays incurred by Sun Ltd. during theprevious year ended 31st March, 2019 will not be admissible as deduction while computing its business income
a. Contribution to a political party in cash
b. Interest on loan taken for payment of income-tax
c. Capital exnditure on advertisement
d. All of the above
Q. Any corporation by or under any Central, State or Provincial Act or a Government Company asdefined in the Companies Act is called -----
a. Public Sector Company
b. Joint company
c. Private Sector company
d. Provincial Company
Q. Any company which has made the prescribed arrangements for the declaration and payment of dividends within India is called ------
a. Domestic Company
b. Non domestic company
c. Public sector company
d. Provincial company
Q. A company which is neither an Indian company not has made the prescribed arrangements forthe declaration and payment of dividends within India is called -----
a. Domestic Company
b. Foreign Company
c. Public sector company
d. Provincial company