Business Taxation

G

Gopal Sharma • 28.64K Points
Instructor II

Q 31. Surcharge is levied at the rate …………….if the income exceeds ` 1 crore of the financial year 2016-17.

(A) 10%
(B) 12%
(C) 15%
(D) 20%
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V

Vinay • 19K Points
Tutor I

Q 32. Which of the following are true regarding taxing the rich?

(A) additional 10% tax on dividends in excess of ` 10 lakh per annum
(B) surcharge on persons decreased to 12% from 15%
(C) tds at 1% on purchase of luxury cars exceeding value of ` 10 lakh
(D) all of the above
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G

Gopal Sharma • 28.64K Points
Instructor II

Q 33. The rate of tax for the financial year 2016-17 for the foreign companies is

(A) 45%
(B) 30%
(C) 40% flat
(D) none of the above
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P

Priyanka Tomar • 25.98K Points
Instructor II

Q 34. For computation for Income tax liability for individual, the Education Cess is

(A) 3%
(B) 4%
(C) 2.5%
(D) 2%
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G

Gopal Sharma • 28.64K Points
Instructor II

Q 35. Income tax rate for the senior citizens for year 2016-17 is .

(A) upto ` 5 lakh is nil
(B) upto ` 10 lakh is 10%
(C) upto ` 5 lakh is 10%
(D) none of the above
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R

Ranjeet • 25.13K Points
Instructor II

Q 36. The Income tax rate for the financial year 2016-17 for individual is…………..

(A) ` 5,00,000 to ` 10,00,000 is 20%
(B) ` 5,50,000 to ` 1,50,000 is 20%
(C) ` 5,00,000 to ` 10,00,000 is 30%
(D) ` 5,00,000 to ` 10,00,000 is 10%
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P

Praveen Singh • 27.20K Points
Instructor II

Q 37. ……………….of Income Tax Act defines the perquisites and their valuation.

(A) section 18
(B) section17
(C) section 18(c)
(D) section 17(c)
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P

Priyanka Tomar • 25.98K Points
Instructor II

Q 38. The house rent allowance (HRA) under the salary head of Income Tax Act is given by

(A) section 10
(B) sec 10(13a)
(C) section 11(13b)
(D) section 11
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G

Gopal Sharma • 28.64K Points
Instructor II

Q 39. Compensation received on voluntary retirement is given by of Income Tax Act, 1961.

(A) section 10(10d)
(B) section 10(10c)
(C) section 10(10e)
(D) section 11(10d)
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R

Ram Sharma • 188.81K Points
Coach

Q 40. Encashment of earned leave is given by………………. of Income Tax Act, 1961.

(A) section 10(10aa)
(B) section 12(10a)
(C) section 15(10b)
(D) none of the above
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