FirstRanker Logo

FirstRanker.com - FirstRanker's Choice is a hub of Question Papers & Study Materials for B-Tech, B.E, M-Tech, MCA, M.Sc, MBBS, BDS, MBA, B.Sc, Degree, B.Sc Nursing, B-Pharmacy, D-Pharmacy, MD, Medical, Dental, Engineering students. All services of FirstRanker.com are FREE

📱

Get the MBBS Question Bank Android App

Access previous years' papers, solved question papers, notes, and more on the go!

Install From Play Store

Download Calicut University M.Com Latest 2020 Tax Planning and Management Question Bank

Download UOC (University of Calicut) M.Com (Master of Commerce) Tax Planning and Management Question Bank (Important Questions)

This post was last modified on 26 December 2019

This download link is referred from the post: Calicut University 2020 Important Questions (Question Bank) || (University of Calicut)


TAX PLANNING AND MANAGEMENT

M.COM IV SEM ELECTIVE: MC4E(F)04

MULTIPLE CHOICE QUESTIONS

--- Content provided by FirstRanker.com ---

  1. The objectives of tax planning is to minimise ............?

    1. tax liability
    2. finance liability
    3. tax return
    4. none of these
    5. --- Content provided by FirstRanker.com ---

  2. Tax management deals with :

    1. filing of return in time
    2. getting the accounts audited
    3. deducting tax at source
    4. --- Content provided by FirstRanker.com ---

    5. all of the above
  3. Income tax act came into force on ............

    1. 01.04.1961
    2. 01.04.1962
    3. --- Content provided by FirstRanker.com ---

    4. 01.04.1956
    5. 01.04.1965
  4. Residential status is determined for ............

    1. previous year
    2. --- Content provided by FirstRanker.com ---

    3. assessment year
    4. accounting year
    5. financial year
  5. How many heads of income are there to compute gross total income?

    --- Content provided by FirstRanker.com ---

    1. six
    2. five
    3. four
    4. three
  6. --- Content provided by FirstRanker.com ---

  7. Deduction of tax at source made for incomes which can be calculated in advance is called ............?

    1. TDS
    2. PAS
    3. FAS
    4. MAS
    5. --- Content provided by FirstRanker.com ---

  8. Donation is deductible under section

    1. 80C
    2. 80D
    3. 80E
    4. --- Content provided by FirstRanker.com ---

    5. 80G
  9. Education cess on tax payable is at..

    1. 2%
    2. 1%
    3. --- Content provided by FirstRanker.com ---

    4. 3%
    5. 5%
  10. The income tax rate on long term capital gains for an individual is ............

    1. 10%
    2. --- Content provided by FirstRanker.com ---

    3. 15%
    4. 20%
    5. 25%
  11. When a receipt is determined as capital receipt or revenue receipt .

    --- Content provided by FirstRanker.com ---

    1. at the time of it is received
    2. while preparing final account
    3. when the received amount is used
    4. none of these
  12. --- Content provided by FirstRanker.com ---

  13. STT stands for

    1. securities transaction tax
    2. secure transaction tax
    3. securities transmission tax
    4. none of these
    5. --- Content provided by FirstRanker.com ---

  14. Who is tax payer?

    1. business man
    2. trust
    3. assessee
    4. --- Content provided by FirstRanker.com ---

    5. govt employee
  15. Reciept of amount on maturity of LIC policy is ............

    1. a revenue receipt
    2. capital receipt
    3. --- Content provided by FirstRanker.com ---

    4. a casual receipt
    5. fixed receipt
  16. Income by way of rent of agricultural land is ............

    1. business income
    2. --- Content provided by FirstRanker.com ---

    3. income from other sources
    4. agricultural income
    5. casual income
  17. The highest administrative authority for income tax in India .............?

    --- Content provided by FirstRanker.com ---

    1. finance minister
    2. president of India
    3. CBDT
    4. director of IT
  18. --- Content provided by FirstRanker.com ---

  19. Tonnage tax is based on ............

    1. net tonnage
    2. gross tonnage
    3. actual tonnage
    4. weighted average
    5. --- Content provided by FirstRanker.com ---

ANSWER KEY

1.a 2.d 3.b 4.a 5.b 6.a 7.d 8.a 9.c 10.a 11.a 12.c 13.b 14.c 15.c 16.a

Prepared by:

Sri. Nazar. K

--- Content provided by FirstRanker.com ---

Assistant Professor on contract,

School of Distance Education,

University of Calicut.

FirstRanker.com

FirstRanker.com

--- Content provided by FirstRanker.com ---



This download link is referred from the post: Calicut University 2020 Important Questions (Question Bank) || (University of Calicut)

--- Content provided by FirstRanker.com ---