Add Paper to My Library. Related documents. a) i) Define the term ‘tax planning’ (2 marks) ii) Briefly explain two instances in which a business may apply the concept of tax planning (4 marks) (b) The Kenya Revenue Authority (KRA) is geared towards a function-based organization rather than one structured along the types of taxes. There must be a transfer of such capital asset. SURVEY . Jump to Page . These Income Tax GK Quiz or General Awareness quiz objective questions answers are very helpful for competitive exams BBA, MBA, PGDBM etc. 4 0 obj (a) Income (b) Profit (c) Turnover (d) Expenditure 3. Copy URL. Share. Just $20 for 2 years with automatic renewal. INCOME TAX MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQs) DIRBUGARH UNIVERSITY B.COM 6 TH SEM GENERAL COURSE Fill in the blanks: 1) The income tax was introduced in India for the first time in 1860 by British rulers. Professor William Kratzke is a Cecil C. Humphreys Professor of Law at the Uni- versity of Memphis. Yes, an SMSF can lease an asset of the fund – such as business equipment or machinery – to a related party of the fund. It is the duty of the employee to inform the employer (in our case the Bank) of any other income the employee is earning; such as income from renting of his house, or income from FDs etc. Search inside document . Income received in India is taxable in the hands of..... A) Resident only. like on deductions and CGT and Ordinary income Related documents 25 1 July 2014, questions and answers Domestic Violence Final Exam 2018, questions and answers Mid Exam 2018, questions Vulnerable Groups … The taxpayer has to pay tax at the marginal rate applicable to him. About the Author . For example, if you have a regular job and enjoy painting pictures as an unrelated hobby in your spare time, any income from the paintings you sell is not regarded as assessable income. All of the above. amahemma• 1 year ago. Queen Mary University of London . This is known as an in-house asset. C 31 October 2003. Q. ¾ÂàïðÁ>¸‡ô"=>Nn±‚œo?Ǻ£É|ÆÕëëP•>àß-{ÓÖý:²ˆî›ÿ¹8ÒÂ×Ê÷Ýð!¨mbÂÂ{³,_øýù Öj‘¢6ö½×wØbûǺØ,isíیˆÎ iå{ iðâ‡ùGS¤".öõHN¥ûœâÏ;¯|~Ù}lÜzû W ™îšq}xü쯻‡Fë/[ÐJÏ~ÇøÜx5uûðü_Ší‘6[åüò.èÔ pN§6º_(ô¸Œs¼¦¬ì¬#­b‰ÒµWJ*X[àN¥Ì. in Political Science and the Far Eastern & Russian Institute from the University of Washington in 1971. Show answers . Questions and answers Can equipment owned by the SMSF be leased to other members of the same SMSF? There is no negative mark for incorrect answers.] I. f) Ask your parents. INCOME TAX - II 1. questions December 2007 ??? merger acquisition MCQ NTU.pdf. Ungraded . answer explanation . Ans-Income which has been earned but not yet received is known as accrued income. Girish Ahuja and : Systematic Approach to Income-tax, Service Tax and VAT; Bharat Law William Kratzke . Please sign in or register to post comments. Social Security tax . 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