Top 150+ Solved Tax Planning and Management MCQ Questions Answer
Q. --------- is the implementation of the plan of tax
a. Tax evasion
b. Tax avoidance
c. Tax management
d. None of these
Q. Which of the following is an objective of tax management?
a. Minimize litigation
b. Productive investment
c. Compliance with legal formalities
d. Healthy growth of economy
Q. The method by which a person illegally reduces his tax burden by either deflating their income orinflating their expenses is known as
a. Tax planning
b. Tax evasion
c. Tax management
d. Tax avoidance
Q. ------ refers to hedging of tax?
a. Tax planning
b. Tax evasion
c. Tax management
d. Tax avoidance
Q. Company is defined under
a. Section 2 (17)of the Income Tax Act
b. Section 2 (32)of the Income Tax Act
c. Section 2 (14)of the Income Tax Act
d. Section 2 (12)of the Income Tax Act
Q. Whichof the following deals with Domestic Company?
a. Sec 2 (234)
b. Sec 2 (224)
c. Sec 2 (22)
d. Sec 2 (26)
Q. Section 2 (234) relates to
a. Indian company
b. Domestic company
c. Foreign company
d. Widely held company
Q. A company in which the public is not substantially interested is known as
a. Domestic company
b. Foreign company
c. Widely held company
d. Closely held company
Q. Section 80 JJAA deals with
a. Deduction in respect of produced companies
b. Production in respect of certain incomes
c. Deduction in respect of employment of new employee
d. Deduction in respect of profits and gains from undertakings an enterprise in special category states
Q. Expenditure incurred by an hotelier on replacement of linen and carpets in his hotel. Suchexpenditure shall be considered as
a. Revenue expenditure
b. Deferred revenue expenditure
c. Capital expenditure
d. Illegal expenditure
Q. The maximum deduction available under section 80 C is
a. Rs50000
b. Rs100000
c. Rs150000
d. Rs200000
Q. The Presumptive Taxation Scheme of Section 44 AD can be adopted by
a. Resident Individual tax payers
b. Hindu Undivided Families
c. Partnership firms except Limited Liability Partnership Firms
d. All of these
Q. Deemed dividend is defined in
a. Section 2 (22)(a)
b. Section 2 (21)(a)
c. Section 2 (23)(a)
d. Section 2 (22)(c)
Q. An assessee incurred expense of tax on non monetary perquisites of employees. Such expenditure shall be considered as
a. Revenue expenditure
b. Deferred revenue
c. Capital expenditure
d. Expressly disallowed