Start learning →

CA Final Special Tax Regimes for Companies — practice questions

Explore 55 free Special Tax Regimes for Companies questions in CA Final Taxation. Open each question or exercise to read its content, reference answers and available explanation.

Practise Special Tax Regimes for Companies with Quill →

Special Tax Regimes for Companies questions and exercises with answers

Showing questions 1–30 of 55.

Which rate applies to a domestic company that opts for section 115BAA?Read the answer and worked solution →Which section offers a 15 per cent rate to new manufacturing domestic companies?Read the answer and worked solution →By when must the section 115BAA option be exercised?Read the answer and worked solution →Once the section 115BAA option is exercised, what follows?Read the answer and worked solution →Which deduction can a company still claim after opting for section 115BAA?Read the answer and worked solution →A company opting for section 115BAA loses which deduction for SEZ units?Read the answer and worked solution →A 115BAA company with an IFSC unit may still claim which deduction for that unit?Read the answer and worked solution →Does section 115JB (MAT) apply to a company that has opted for section 115BAA?Read the answer and worked solution →For assessment years from 2020-21, MAT is levied if tax is below what share of book profit?Read the answer and worked solution →The original MAT rate in section 115JB(1) for assessment year 2012-13 onward was what?Read the answer and worked solution →Which item is added back to profit to reach book profit?Read the answer and worked solution →How do dividends paid or proposed affect book profit?Read the answer and worked solution →Amounts carried to reserves, other than section 33AC reserve, are treated how in book profit?Read the answer and worked solution →Deferred tax and its provision debited to the profit and loss account are treated how for MAT?Read the answer and worked solution →What must every company to which section 115JB applies furnish with its return?Read the answer and worked solution →For MAT accounts, which item must match the AGM accounts?Read the answer and worked solution →Is tax credit allowed for tax paid under section 115JB under the Act?Read the answer and worked solution →Is interest payable on the MAT credit allowed under section 115JAA?Read the answer and worked solution →How is the 115JAA credit for MAT worked out?Read the answer and worked solution →When may the MAT credit be set off under section 115JAA?Read the answer and worked solution →A private company converts into an LLP. What happens to its MAT credit?Read the answer and worked solution →What happens to the MAT credit if an assessment order changes the tax payable?Read the answer and worked solution →What is the AMT rate on adjusted total income under section 115JC?Read the answer and worked solution →Section 115JC (AMT) applies to which kind of assessee?Read the answer and worked solution →Which deduction is NOT added back when computing adjusted total income under 115JC?Read the answer and worked solution →Adjusted total income is the total income increased by deduction claimed under which section?Read the answer and worked solution →An IFSC unit earning solely in convertible foreign exchange pays AMT at what rate?Read the answer and worked solution →Under the 2022 amendment to 115JC(4), a co-operative society pays AMT at what rate?Read the answer and worked solution →How is the section 35AD deduction treated for adjusted total income?Read the answer and worked solution →What is the AMT credit under section 115JD for a year?Read the answer and worked solution →

Worked practice questions

Which rate applies to a domestic company that opts for section 115BAA?

  1. 22 per cent
  2. 25 per cent
  3. 30 per cent
  4. 15 per cent
Show answer and solution

Correct answer: A. 22 per cent

Section 115BAA lets a domestic company compute its tax at a flat 22 per cent if the prescribed conditions are met.

Open this question →

Which section offers a 15 per cent rate to new manufacturing domestic companies?

  1. Section 115BAA
  2. Section 115BAB
  3. Section 115BA
  4. Section 115JB
Show answer and solution

Correct answer: B. Section 115BAB

Section 115BAB is the concessional regime at fifteen per cent for qualifying new manufacturing or production companies.

Open this question →

By when must the section 115BAA option be exercised?

  1. End of the previous year
  2. Before payment of advance tax
  3. On or before the return due date
  4. Within 90 days of assessment
Show answer and solution

Correct answer: C. On or before the return due date

The option has to be exercised in the prescribed manner by the due date for furnishing the return under section 139(1).

Open this question →

How to practise

  1. Choose a Special Tax Regimes for Companies question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

More Taxation topics

Double TaxationTransfer PricingDeduction, Collection and Recovery of TaxIncome Tax DepartmentPermanent Account NumberBasic ConceptsAnti-avoidance ProvisionsAppeals, Revision and Dispute Resolution