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Which is the highest administrative authority of Income Tax in India?

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Important Questions on Direct and Indirect Taxes

EASY
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
The tax levied on net fair market value of a taxpayer’s assets is called?
MEDIUM
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
Which of the following is the largest single source of the government’s earning from tax revenue?
EASY
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
_____ is a tax based on the market value of assets owned by a taxpayer.
EASY
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
If a company’s turnover is less than 400 cr. How much corporation tax it has to pay?
MEDIUM
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
Who charges the income tax?
HARD
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes

Which of the following is not an example of a Direct tax?

EASY
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
Vivad se Vishwas scheme is related to which of the following?
EASY
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
Stepping up its fight against tax evasion, the Centre has made it mandatory to quote the Aadhaar number for opening bank accounts and for transactions exceeding:
MEDIUM
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
'MAT' provision in Income Tax stands for:
MEDIUM
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
Which of the following taxes will be levied on imports ?
MEDIUM
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
What kind of tax system is found in India?
EASY
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
The Benefit Principle of taxation states that tax should be paid in proportion to:
HARD
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
What was the rate of Wealth Tax imposed between 1950 - 2015?
EASY
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
Corporation tax is a type of which of the following?
MEDIUM
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
No income tax for earnings up to _____ rupees, as per the Interim Budget for 2019 presented by Union Finance Minister Piyush Goyal in Parliament on February 1, 2019.
EASY
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
What are the effects on financial statements, if provision for Income Tax to be made ₹12,000 is given in adjustment?
MEDIUM
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
Income tax is a _____
EASY
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
Purchase of Securities is governed by
HARD
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
What is the approximate rate of Corporate Income Tax under the new tax regime?
EASY
Test of General Awareness>Financial Market Awareness>Direct and Indirect Taxes>Direct Taxes
The most accepted theory of taxation in modern times: