As you all must be aware, MCQs carry 30 marks weightage in your paper 7 and 40 marks in paper 6 new course. It becomes imperative to practice it and know the nuances of the tax laws. MCQs can take you to exemption or break you. Here in this channel, Everyday 3 MCQs on paper 7 (Direct Tax) as well as paper 6 - International Tax would be provided and solutions the next day. Subtle and finer points along with practical aspects would be covered. Since till the last day I am pretty sure you would not get dedicated time separately to devote to MCQs an attempt is made at this channel to enable you to stay revised daily as well as get a hangon with MCQs. Stay tuned. Starting from tomorrow evening.
Hi guys. Starting with the first series.
1. The power to levy income-tax comes from
A) Entry 82 of State list
B) Entry 84 of Union list
C) Entry 82 of Union List
D) Entry 84 of Concurrent list
2. The assessee was leasing our vehicles for hiring. He claimed higher rate of depreciation @ 40%. The AO disallowed the deduction on the ground that the assessee was not himself using the vehicles for hiring. The court allowed the assessee’s claim holding that once it is accepted that the leasing out of the vehicles is one of the modes of doing business by the assessee, it cannot be said that vehicles were not used for assessee’s business. Which rule of interpretation the court followed:
A. Literal construction
B. Liberal construction
C. Purposive construction
D. Heydon’s rule
1. The power to levy income-tax comes from
A) Entry 82 of State list
B) Entry 84 of Union list
C) Entry 82 of Union List
D) Entry 84 of Concurrent list
2. The assessee was leasing our vehicles for hiring. He claimed higher rate of depreciation @ 40%. The AO disallowed the deduction on the ground that the assessee was not himself using the vehicles for hiring. The court allowed the assessee’s claim holding that once it is accepted that the leasing out of the vehicles is one of the modes of doing business by the assessee, it cannot be said that vehicles were not used for assessee’s business. Which rule of interpretation the court followed:
A. Literal construction
B. Liberal construction
C. Purposive construction
D. Heydon’s rule
For new course - international Tax
1. The eligibility of treaty depends on:
A. Residency
B. If an entity is person as defined in treaty
C. Both A and B
D. Payment of taxes in resident country.
1. The eligibility of treaty depends on:
A. Residency
B. If an entity is person as defined in treaty
C. Both A and B
D. Payment of taxes in resident country.
Guys also in this channel starting to help u with an edge performance in ur exams. Use of certain legal maxims with an example how we can use it in our tax law.
The power to levy income-tax comes from
public poll
C) Entry 82 of Union List – 81
👍👍👍👍👍👍👍 75%
A) Entry 82 of State list – 18
👍👍 17%
B) Entry 84 of Union list – 8
👍 7%
D) Entry 84 of Concurrent list – 1
▫️ 1%
👥 108 people voted so far. Poll closed.
public poll
C) Entry 82 of Union List – 81
👍👍👍👍👍👍👍 75%
A) Entry 82 of State list – 18
👍👍 17%
B) Entry 84 of Union list – 8
👍 7%
D) Entry 84 of Concurrent list – 1
▫️ 1%
👥 108 people voted so far. Poll closed.
For new course - international Tax 1. The eligibility of treaty depends on:
public poll
C. Both A and B. – 39
👍👍👍👍👍👍👍 74%
A. Residency – 7
👍 13%
B. If an entity is person as defined in treaty – 4
👍 8%
D. Payment of taxes in resident country – 3
👍 6%
👥 53 people voted so far. Poll closed.
public poll
C. Both A and B. – 39
👍👍👍👍👍👍👍 74%
A. Residency – 7
👍 13%
B. If an entity is person as defined in treaty – 4
👍 8%
D. Payment of taxes in resident country – 3
👍 6%
👥 53 people voted so far. Poll closed.
Would be sharing a small 2 min video of the answers along with brief conceptual clarity behind the correct answer. This would enable you to revise and understand DT effectively. Till then select ur answer in the poll. This would help us to gauge your understanding.