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CA Final Taxation of Companies — practice questions — page 2

Explore 50 free Taxation of Companies questions in CA Final Taxation. Open each question or exercise to read its content, reference answers and available explanation.

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Taxation of Companies questions and exercises with answers

Showing questions 31–50 of 50.

The OECD's main concern about corporate tax is its effect on which activity?Read the answer and worked solution →A tax on corporate attributes unrelated to income may be based on which measure?Read the answer and worked solution →For tax purposes, characterisation as a corporation is based mainly on what?Read the answer and worked solution →Imputation systems and franking credits are used to partly integrate taxation of which two levels?Read the answer and worked solution →Which Entry of the Union List empowers Parliament to tax non-agricultural income in India?Read the answer and worked solution →Which list gives the five heads of income in India?Read the answer and worked solution →The scope of a taxpayer's total income depends on category and what else?Read the answer and worked solution →Budget amendments to the Act generally apply from which date?Read the answer and worked solution →Which Act replaced the Income Tax Act, 1961 from 1 April 2026?Read the answer and worked solution →What is the structure of the Income-tax Act, 2025?Read the answer and worked solution →Which member of the CBDT led the 2017 panel to simplify direct tax law?Read the answer and worked solution →Which body administers the Income Tax Department in India?Read the answer and worked solution →Income tax is generally computed as tax rate multiplied by what?Read the answer and worked solution →What is the rate of health and education cess levied on the tax of a company in India?Read the answer and worked solution →Cumulatively, what share of advance tax must be paid by 15 December?Read the answer and worked solution →Which section governs a belated income-tax return?Read the answer and worked solution →A revised return to correct an omission is filed under which section?Read the answer and worked solution →A defective return must be rectified within how many days of notification?Read the answer and worked solution →Under-reported income attracts a penalty of what share of tax under section 270A?Read the answer and worked solution →Which section imposes a late fee for delay in filing the return?Read the answer and worked solution →

Worked practice questions

The OECD's main concern about corporate tax is its effect on which activity?

  1. Exports of goods
  2. Imports of goods
  3. Business investment
  4. Consumer spending
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Correct answer: C. Business investment

The concern is that corporate tax lowers investment and so reduces productivity.

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A tax on corporate attributes unrelated to income may be based on which measure?

  1. Profit after tax paid
  2. Capital stock issued
  3. Dividend actually paid
  4. Interest actually earned
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Correct answer: B. Capital stock issued

Non-income corporate taxes can be based on capital stock issued or authorised, total equity or net capital.

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For tax purposes, characterisation as a corporation is based mainly on what?

  1. Form of organization
  2. Turnover of the entity
  3. Number of employees
  4. Place of its customers
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Correct answer: A. Form of organization

Most systems classify an entity as a corporation by its legal form of organisation.

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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