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1. Syngular or Plural of word Tax
Answer: Taxes
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MCQ->As we all know Govt. of Indiacollects tax revenue on variousactivities in the country. Whichof the following is a part of thetax revenue of the Govt. ? (i) Tax on Income(ii) Tax on Expenditure(iii) Tax on Property or CapitalAsset(iv) Tax on Goods and Services...
MCQ->Which of the following statement(s) is/are true about the Union Budget 2004-05 passed recently? A. Tax rebate for those earning upto Rs. 1,11,200/- so that their take home income comes to Rs 1 lakh after the tax . B. Tax on airlines leasing aircraft from abroad valid on deals signed after April 1,2005. C. Chartered Accountants and tax professionals are held responsible for sny falsification of account books irrespective, of its impact on tax evasion....
MCQ-> Based on the following information
Total income tax payable is obtained by adding two additional surcharges on calculated income tax.Education Cess : An additional surcharge called ‘Education Cess’ is levied at the rate of 2% on the amount of income tax.Secondary and Higher Education Cess : An additional surcharge called ‘Secondary and Higher Education Cess` is levied at the rate of 1% on the amount of income tax.Sangeeta is a young working lady. Towards the end of the financial year 2009 - 10, she found her total annual income to be Rs. 3, 37, 425/ -. What % of her income is payable as income tax?
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MCQ-> Directions for the following ten questions: Fill up the blanks, numbered [1], [2] up to [10], in the two passages below with most appropriate word from the options given for each blank.First Passage:"Between the year 1946 and the year 1955, I did not file any income tax returns." With that [1] statement, Ramesh embarked on an account of his encounter with the income tax department. "I originally owned Rs. 20,000 in unpaid taxes. With [2] and [3], the 20,000 became 60,000. The Income tax Department then went into action, and I learned first hand just how much power the Tax Department wields. Royalties and trust funds can be [4]; automobiles may be [5], and auctioned off. Nothing belongs to the [6] until the case is settled."Second Passage:"At that time the white house was as serene as a resort hotel out of season. The corridors were [7]. In the various offices, [8] gray men in waistcoats talked to one another in low-pitched voices. The only color, or choler, curiously enough, was provided by President Eisenhower himself. Apparently, his [9] was easily set off; he scowled when he [10] the corridors.Blank Number [1]
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MCQ->Statement: Should all the indirect taxes in India be combined into a single tax on all commodities? Arguments: Yes. This will considerably simplify the tax collection mechanism and the cost of collecting tax will also reduce. Yes. The manufacturers and traders will be benefited by this which in turn will boost tax collection. No. No other country has adopted such system. ...
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