Financial Planning and Tax Management - uiz

Class Roll No.

Section

Name of the Student

Father's Name

Mobile Number

What is the primary definition of tax?

• A payment made voluntarily to the government

• A compulsory financial charge imposed by a government

• A fee for public services

• A loan from the government

Which of the following is NOT one of the cannons of taxation?

• Equity

• Certainty

• Simplicity

• Compulsory

Who is referred to as the 'assessee' in taxation?

• The tax collector

• The person liable to pay tax

• The government body

• The tax advisor

What does 'previous year' refer to in the context of income tax?

• The year in which tax is paid

• The year before the assessment year

• The financial year in which income is earned

• The year in which tax returns are filed

The assessment year is defined as:

• The year when income is earned

• The year following the previous year

• The year when taxes are collected

• The year in which a tax law is enacted