Your Answer LIST OF ATTEMPTED

Sales tax QUESTIONS AND ANSWERS (Taxation_4)

Multiple Choice Single Answer

Question The return of income is required to be filed by all the companies, except those
covered under section 25 of the companies Act,1956 in the :-
Correct Answer Form No. 1

Match The Following

Question Correct Answer Your Answer
Disallowable Litigation Expenses in connection with Litigation Expenses in connection with
Expenditure recovery of a debt which is not a trading debt recovery of a debt which is not a trading debt
Business Includes trade, commerce, or manufacture or Includes trade, commerce, or manufacture or
any adventure or concern in the nature of trade, any adventure or concern in the nature of trade,
commerce or manufacture commerce or manufacture
Profession Includes vocation Includes vocation
Capital Expenditure Expenditure incurred by a company with Expenditure incurred by a company with
the issue of rights shares the issue of rights shares

Multiple Choice Single Answer

Question The sum total of all the heads of income clubbed together gives the amount of :-
Correct Answer Gross Total Income

Select The Blank

Question Short term Capital Gains is taxed at ________.
Correct Answer Normal Tax rates

Multiple Choice Multiple Answer

Question From annual value, following deductions are allowed :-
Correct Answer Standard deduction , Interest on borrowed capital , Municipal taxes

Multiple Choice Multiple Answer

Question The rebate u/s 88 is available to an :-
Correct Answer Individual , Hindu Undivided Family.