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Module Iii: Various Statutory and Business Registrations: Answer Key

The document discusses various statutory and business registrations in India including PAN applications, Section 8 companies, NIC codes, social enterprises, GSTIN numbers, private trusts, society registrations, and Aadhaar numbers. It provides descriptions and explanations for each topic.

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Ravinder Verma
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63 views

Module Iii: Various Statutory and Business Registrations: Answer Key

The document discusses various statutory and business registrations in India including PAN applications, Section 8 companies, NIC codes, social enterprises, GSTIN numbers, private trusts, society registrations, and Aadhaar numbers. It provides descriptions and explanations for each topic.

Uploaded by

Ravinder Verma
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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MODULE III: VARIOUS STATUTORY AND BUSINESS

REGISTRATIONS
ANSWER KEY

1 : who accepts PAN applications on behalf of the Income Tax Department?


1. NSDL e-Gov
2. TIN-Facilitation Cent
3. both of them
4. none of them

YOUR ANSWER: both of them


CORRECT ANSWER: NSDL e-Gov
DESCRIPTION: NSDL e-Gov accepts PAN applications on behalf of Income Tax Department.

2 : Section 8 company is governed by the ____________


1. Shop & Establishment Act
2. the Companies Act
3. Indian Contract Act
4. none of them

YOUR ANSWER: the Companies Act


CORRECT ANSWER: the Companies Act
DESCRIPTION: Section 8 company which is governed by the Companies Act, 2013.

3 : NIC Code stands for?


1. National Industry Class Code
2. National Indian Classification Code
3. National Industry Classification Code
4. none of them

YOUR ANSWER: National Industry Classification Code


CORRECT ANSWER: National Industry Classification Code
DESCRIPTION: NIC Code stands for National Industry Classification Code.

4 : social enterprises typically measures success based on ____________


1. People
2. Planet
3. Profit
4. all of them

YOUR ANSWER: People


CORRECT ANSWER: all of them
DESCRIPTION: social enterprises typically measure success based on a triple bottom line: • People: The social impact of your
business, and your ability to change lives and develop a community in a sustainable way. • Planet: Your environmental impact; how you
contribute to a sustainable planet or reduce the carbon footprint (CO2 emissions) of your business and customers. • Profit: Like
traditional businesses, they need to make money in order to sustain themselves, pay workers and grow as an enterprise.

5 : What is a GSTIN?
1. GST information number
2. GST identification number
3. GST ideal number
4. none of them

YOUR ANSWER: GST identification number


CORRECT ANSWER: GST identification number
DESCRIPTION: GSTIN refers to the unique GST identification number that every business will be allotted.

6 : Under which act does a Private Trusts registration takes place?


1. Indian Trusts Act, 1882
2. Indian Contract Act
3. the Companies Act
4. Shop & Establishment Act

YOUR ANSWER: Indian Trusts Act, 1882


CORRECT ANSWER: Indian Trusts Act, 1882
DESCRIPTION: Private Trusts takes place under the Indian Trusts Act, 1882

7 : Under which does a Society registration in India takes place?


1. Indian Trusts Act, 1882
2. the Companies Act
3. The Societies Registration Act, 1860
4. none of them

YOUR ANSWER: The Societies Registration Act, 1860


CORRECT ANSWER: The Societies Registration Act, 1860
DESCRIPTION: Society registration in India takes place under The Societies Registration Act, 1860.

8 : How can a PAN application be submitted?


1. online
2. physical form
3. both of them
4. none of them

YOUR ANSWER: both of them


CORRECT ANSWER: both of them
DESCRIPTION: Applicant may either make an online application through this website or submit physical PAN Application to any TIN-
FC or PAN centre of NSDL.

9 : By which department is the PAN number is issued?


1. GST department
2. Income Tax Department
3. information department
4. commerce department

YOUR ANSWER: Income Tax Department


CORRECT ANSWER: Income Tax Department
DESCRIPTION: Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the
Income Tax Department, to any "person" who applies for it

10 : Aadhaar Number consist of how many digits?


1. 12
2. 13
3. 14
4. 15

YOUR ANSWER: 12
CORRECT ANSWER: 12
DESCRIPTION: Aadhaar Number consist of 12 digits.

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