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CA Final Special Tax Regimes for Companies — practice questions — page 2

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.

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Special Tax Regimes for Companies questions and exercises with answers

Showing questions 31–55 of 55.

Interest on AMT credit under section 115JD is payable at what rate?Read the answer and worked solution →AMT credit can be carried forward not beyond which assessment year after it arises?Read the answer and worked solution →AMT credit is set off in a year when which condition holds?Read the answer and worked solution →A new manufacturing company must be set up and registered on or after which date for 115BAB?Read the answer and worked solution →Which fact disqualifies a company from the 115BAB rate?Read the answer and worked solution →Previously used machinery in a 115BAB company is tolerated up to what share of total value?Read the answer and worked solution →Which activity is excluded from the business of manufacture for section 115BAB?Read the answer and worked solution →Which business is treated as not manufacturing under section 115BAB?Read the answer and worked solution →Under section 115BAB, non-manufacturing income with no specific rate is taxed at what rate?Read the answer and worked solution →Excess profit from a close connection arrangement is taxed at what rate under 115BAB?Read the answer and worked solution →If a 115BAB company fails a condition in a year, what is the effect?Read the answer and worked solution →A company whose 115BAB option became invalid can opt for which section?Read the answer and worked solution →In an amalgamation, the 115BAB option remains valid in which company?Read the answer and worked solution →Guidelines the Board issues under 115BAB(4) require approval of whom?Read the answer and worked solution →What rate does section 115BA give a qualifying manufacturing domestic company?Read the answer and worked solution →A company under section 115BA must be set up and registered on or after when?Read the answer and worked solution →A 115BA company that opts for 115BAA may do what with its 115BA option?Read the answer and worked solution →What depreciation can a 115BAA company not claim under section 32?Read the answer and worked solution →Under 115BAA, how is loss from barred deductions treated later?Read the answer and worked solution →From which assessment year does section 115BAA apply?Read the answer and worked solution →Which companies can opt for section 115BAA?Read the answer and worked solution →Tax avoidance differs from tax evasion in that avoidance is what?Read the answer and worked solution →A General Anti-Avoidance Rule is aimed at which behaviour?Read the answer and worked solution →Bilateral double taxation treaties aim to avoid what outcome?Read the answer and worked solution →What do tax havens do, in the context of tax avoidance?Read the answer and worked solution →

Worked practice questions

Interest on AMT credit under section 115JD is payable at what rate?

  1. 6 per cent a year
  2. 12 per cent a year
  3. No interest at all
  4. 1% for each month
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Correct answer: C. No interest at all

Sub-section (3) of section 115JD states that no interest is payable on the credit.

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AMT credit can be carried forward not beyond which assessment year after it arises?

  1. Fifth
  2. Tenth
  3. Twelfth
  4. Fifteenth
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Correct answer: D. Fifteenth

Section 115JD(4), as amended in 2017, allows carry forward up to the fifteenth immediately succeeding assessment year.

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AMT credit is set off in a year when which condition holds?

  1. Regular tax exceeds AMT
  2. AMT exceeds regular tax
  3. Profit is nil this year
  4. A loss is brought forward
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Correct answer: A. Regular tax exceeds AMT

Section 115JD(5) allows set off to the extent regular income-tax exceeds the alternate minimum tax of that year.

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More Taxation topics

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