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WorksheetsCorporate Tax Planning - 2021
Total questions: 10
Worksheet time: 10mins
1 - Using the loopholes of law to reduce tax is known as
Tax evasion
Tax planning
Tax avoidance
Tax management
2 - A company which is neither an Indian company not has made the prescribed arrangements for the declaration and payment of dividends within India is called -------
Domestic Company
Foreign Company
Public sector company
Provincial company
3 - Tonnage tax system is exclusively intended to --------
Joint stock Companies
partnership firms
Shipping Companies
IT Companies
4 - If the tax liability of a company is less than 15 % of its book profits, the company is liable to pay MAT at the rate of ---------
15% of books profits plus Surcharge) if any) plus 4% HEC
16% of books profits plus Surcharge)if any) plus 4% HEC
16.5% of books profits plus Surcharge)if any) plus 4% HEC
18.5% of books profits plus Surcharge(if any) plus 4% HEC
5 - Section 115JB relates to ------
Securities Transaction Tax
Maximum Alternative Tax
Minimum Alternative Tax
Surcharge
6 - Which among the following is not available to companies?
80 IB
80 C
80 G
None of these
7 - How much percentage of income from the manufacture of tea is considered as business income.
10%
20%
30%
40%
8 - Concealment of income or false claims to reduce tax liability are cases of ------
Tax evasion
Tax planning
Tax avoidance
Tax management
9 - Return on investment > rate of interest , --------------- funds may be used in capital structure.
Minimum Debt Fund
Maximum Debt Fund
Minimum Equity Fund
Maximum Equity Fund
10 - Which of the following is an objective of tax management ?
Minimize litigation
Productive investment
Compliance with legal formalities
Healthy growth of economy
