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    DT MCQ - May 2023 - Based On Memory

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    swati dubey
    1. The document contains 17 multiple choice questions related to calculation of capital gains, taxability of compensation received, tax deductibility of donations and gifts, filing of tax returns, advance rulings, tax deducted at source, penalties for non-compliance, and taxability of income from different sources. 2. The questions cover topics like capital gains calculation, taxability of compensation received from the government, tax deductibility of political donations and gifts, conditions for filing tax returns, timelines for advance rulings, tax deducted at source rates and calculations, penalties for non-compliance with reporting requirements, taxability of income from dividends and business profits. 3. The response options provide different monetary values or statements

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    DT MCQ - May 2023 - Based On Memory

    Uploaded by

    swati dubey
    15 views2 pages
    1. The document contains 17 multiple choice questions related to calculation of capital gains, taxability of compensation received, tax deductibility of donations and gifts, filing of tax returns, advance rulings, tax deducted at source, penalties for non-compliance, and taxability of income from different sources. 2. The questions cover topics like capital gains calculation, taxability of compensation received from the government, tax deductibility of political donations and gifts, conditions for filing tax returns, timelines for advance rulings, tax deducted at source rates and calculations, penalties for non-compliance with reporting requirements, taxability of income from dividends and business profits. 3. The response options provide different monetary values or statements

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    DT MCQ - MAY 2023 - BASED ON MEMORY

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    1. The document contains 17 multiple choice questions related to calculation of capital gains, taxability of compensation received, tax deductibility of donations and gifts, filing of tax returns, advance rulings, tax deducted at source, penalties for non-compliance, and taxability of income from different sources. 2. The questions cover topics like capital gains calculation, taxability of compensation received from the government, tax deductibility of political donations and gifts, conditions for filing tax returns, timelines for advance rulings, tax deducted at source rates and calculations, penalties for non-compliance with reporting requirements, taxability of income from dividends and business profits. 3. The response options provide different monetary values or statements

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    15 views2 pages

    DT MCQ - May 2023 - Based On Memory

    Uploaded by

    swati dubey
    1. The document contains 17 multiple choice questions related to calculation of capital gains, taxability of compensation received, tax deductibility of donations and gifts, filing of tax returns, advance rulings, tax deducted at source, penalties for non-compliance, and taxability of income from different sources. 2. The questions cover topics like capital gains calculation, taxability of compensation received from the government, tax deductibility of political donations and gifts, conditions for filing tax returns, timelines for advance rulings, tax deducted at source rates and calculations, penalties for non-compliance with reporting requirements, taxability of income from dividends and business profits. 3. The response options provide different monetary values or statements

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 2

    DT MCQ - MAY 2023 - BASED ON MEMORY

    1. CALCULATE CAPITAL GAIN


    2. DEATH OF SON IN NAXAL ATTACK, GOVT OF ORISSA GIVES COMPENSATION.
    TAXABILITY ?
    3. CONTRIBUTION TO POLITICAL PARTY BY CHEQUE - 50,000/- PURCHASE NEW
    ELECTRIC CAR 1/6/22 FOR 20 LAC OUT OF WHICH 18 LAC LOAN FROM SBI @
    12 %
    4. ADDITIONAL TAX COMPANY NEEDS TO PAY AT TIME OF 139(8A)
    5. WANT TO REVISE UPDATED RETURN FILED ON 15/03/2023 TO CLAIM TDS OF
    50,000/- WHICH STATEMENT IS CORRECT.
    6. TDS - RENT OF MACHINERY, RENT OF BUILDING; 2 SEPRATE AGREEMENTS.
    WHICH STATEMENT CORRECT - TDS CALCULATION - RATE APPLICABLE ?
    7. AMOUNT CREDITED BY WAY OF LOAN- EXPLANATION OF ASSESSEE CANNOT
    BE DEEMED TO BE SATISFACTORY UNLESS. 3 STATEMENTS GIVEN - (i), (ii),
    (iii)
    8. CAR 85 LAC (20 LAC GST INCLUDED) WHICH WAS GIFTED TO SOCIAL MEDIA
    INFLUENCER, TDS DEDUCTION ON SUCH GIFT?
    9. WHICH CONDITION CORRECT AS PER INCOME TAX ACT TO FILE RETURN IF -
    a. SALE/ TURNOVER > 60 LACS
    b. GROSS RECEIPTS OF PROFESSION EXCEEDS 10 LACS
    c. INCURRED 2.2 LAC EXPENSE ON WIFE FOR TRAVEL TO FOREIGN
    COUNTRY
    10. BOARD OF ADVANCE RULING HAS TO PRONOUNCE ADVANCE RULING
    WITHIN ______ (60 DAYS/ 1 YEAR/ 90 DAYS/ 30 DAYS) FROM RECEIPT OF
    APPLICATION BY BOARD.
    11. BUSINESS TRUST ISSUED BONDS DENOMINATED 500 TO SUZY- NON
    RESIDENT @ 70 EACH 1 JUNE, 1$= 85, INTEREST PAYABLE @12% BY
    BUSINESS TRUST REQUIRES TO DEDUCT TDS FROM INTEREST AMOUNTING
    TO
    a. NIL
    b. 15,470
    c. 89,250
    d. 29,750
    12. FAILED TO OBTAIN REPORT FROM CA UNDER 92E FAILED TO FURNISH
    REPORT BEFORE DUE DATE OF 139(1). PENALTY ??
    a. 1 LAC
    b. @ 2 % OF INTERNATIONAL TRANSACTION
    c. NO PENALTY
    d. 1 LAC & @ 2 % OF INTERNATIONAL TRANSACTION
    13. ORDER PASSED RAISING A DEMAND OF 7,500 MORTGAGED SHARES HELD
    BY HIM FOR 13,000 (MARKET VALUE). A.O. PASS ORDER U/S 281 HOLDING
    SUCH MORTGAGE IS VOID. SELECT CORRECT STATEMENT
    a. ORDER VALID
    b. ORDER VOID 281 NOT APPLICABLE BECAUSE ADEQUATE
    CONSIDERATION THERE
    14. FOR AY 23-24 FILED RETURN ON 30/12/23 - NOTICE UNDER 143(2) SERVED
    UPTO
    a. 30/09/24
    b. 30/06/24
    c. 31/03/25
    d. 31/12/24
    15. TESTED COVID POSITIVE ON 31/08/22, EXPIRED ON 15/09/2022. FRIEND GAVE
    CHEQUE OF 8 LAC ON 15/03/23. TAXABILITY ?
    16. ABC LTD INDIAN COMPANY - TAXABLE PROFIT 30 LAC, DIVIDEND 10 LAC
    FROM CANADIAN COMPANY. ABC HOLDS 30% SHARES IN IT.
    TURNOVER OF ABC FOR 20-21 IS 150 CRORE. NO 115 BAB. CALCULATE TAX
    ON INCOME
    (A) 10,40,000
    (B) 9,36,000
    (C) 10,06,000
    (D) 7,80,000

    17. AIRLINE BUSINESS, COMPANY IS INCORPORATED INAUSTRALIA

    EXPENDITURE OF RS 4.5 CRORE


    CALCULATE INCOME UNDER HEAD PGBP
    (A) 33.5 LAC
    (B) 30 LAC
    (C) 25 LAC
    (D) 15 LAC

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