9/30/23, 3:10 PM Introduction of Taxation of Company: Attempt review

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Home / My courses / MBA / Semester 3 / Finance / Direct Taxation / Unit 6: Taxation of Company / Introduction of Taxation of Company

Started on Saturday, 30 September 2023, 2:40 PM

State Finished
Completed on Saturday, 30 September 2023, 3:09 PM
Time taken 29 mins 12 secs
Marks 10/12
Grade 8 out of 10 (83%)

Question 1
Correct

Mark 1 out of 1

For the purpose of taxation companies are bifurcated in ____ and ____type.

a. Domestic or Resident Company

b. Foreign or Non-Resident company
c. All of the above
d. None of the above

The correct answer is: All of the above

Question 2
Correct

Mark 1 out of 1

_____is the company which is not registered under the companies act of India and has control & management located outside India.

a. Foreign or Non-Resident company

b. Indian Firm
c. Domestic Firm
d. All of the above

The correct answer is: Foreign or Non-Resident company

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9/30/23, 3:10 PM Introduction of Taxation of Company: Attempt review

Question 3
Correct

Mark 1 out of 1

A corporate tax is a levy which the government imposes on the income of a _______

a. Individual
b. Company
c. HUF
d. None of the above

The correct answer is: Company

Question 4
Correct

Mark 1 out of 1

An Indian company is always :

a. Resident in India
b. Non-resident in India
c. Not ordinarily resident in India
d. None of these

The correct answer is: Resident in India

Question 5

Incorrect

Mark 0 out of 1

Dividend paid by an Indian company is :

a. Taxable in India in the hands of the recipient 

b. Exempt in the hands of recipient
c. Taxable in the hands of the company and exempt in the hands of the recipient
d. None of these

The correct answer is: Taxable in the hands of the company and exempt in the hands of the recipient

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9/30/23, 3:10 PM Introduction of Taxation of Company: Attempt review

Question 6
Correct

Mark 1 out of 1

The tax incidence for company or firm in which income received in India and company is resident is _______

a. Taxable
b. Non-taxable
c. Partly taxable
d. None of the above

The correct answer is: Taxable

Question 7
Correct

Mark 1 out of 1

The tax incidence for company or firm in which income received in India and company for non-resident is .

a. Taxable
b. Non-taxable
c. Partly taxable
d. None of the above

The correct answer is: Taxable

Question 8

Correct

Mark 1 out of 1

The tax incidence for company or firm in which income received outside India from a source controlled from India for resident is .

a. Taxable
b. Non-taxable
c. Partly taxable
d. None of the above

The correct answer is: Taxable

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Question 9
Correct

Mark 1 out of 1

The tax incidence for company or firm in which income received outside India from a source controlled from India for non-resident is .

a. Taxable
b. Taxable
c. Taxable
d. Taxable

The correct answer is: Taxable

Question 10
Correct

Mark 1 out of 1

_____is a levy which the government imposes on the income of a company.

a. A corporate tax
b. Business tax
c. Indirect Tax
d. Interest Tax

The correct answer is: A corporate tax

Question 11

Correct

Mark 1 out of 1

Corporate taxes are collected by the _____ as a source of income.

a. Partners
b. Government
c. Industry
d. None of the above

The correct answer is: Government

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9/30/23, 3:10 PM Introduction of Taxation of Company: Attempt review

Question 12
Incorrect

Mark 0 out of 1

Corporation Tax or Corporate Tax is a direct tax levied on the _____ of a corporate entity from their business, foreign or domestic.

a. Turnover
b. Gross income
c. Net income 
d. All of the above

The correct answer is: Gross income

◄ Introduction of Taxation of Company

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