Under Section 271 C of the Income Tax Act, 1961 the amount of penalty for failure to deduct tax at source is
A. | 10% of tax which is otherwise deductible under Section 194 C. |
B. | 100% of tax which is otherwise deductible under Section 194 C. |
C. | 200% of tax which is otherwise deductible under Section 194 C. |
D. | 300% of tax which is otherwise deductible under Section 194 C. |
Option: D Explanation : Click on Discuss to view users comments. |
Secondary market intermediaries for corporate securities in India are
I. Investors II. Jobbers
III. Brokers and sub-brokers IV. Portfolio consultants
A. | I, II and III only |
B. | II, III and IV only |
C. | II and III only |
D. | III and IV only |
Option: B Explanation : Click on Discuss to view users comments. |
Assertion (A) : The span of management at the upper level is generally narrow while at the lower level span is wide.
Reason (R) : The task allocated to subordinates at the lower level of management are more specific and precise and thus making supervision easy and simple-Suggest correct code :
A. | (A) is correct, but (R) is wrong. |
B. | (A) is wrong, but (R) is correct. |
C. | Both (A) and (R) are correct. |
D. | Both (A) and (R) are wrong. |
Option: C Explanation : Click on Discuss to view users comments. |
Margin of Safety is calculated by using
A. | Profit/P/V Ratio |
B. | Fixed Cost/Contribution |
C. | Break Even Sales/Sales |
D. | Profit/Sales |
Option: C Explanation : Click on Discuss to view users comments. |
Which one of the following is not an example of tax evasion?
A. | Submitting misleading documents. |
B. | Not maintaining proper accounts of income earned. |
C. | Suppression of facts. |
D. | Interpreting the tax law in ones own way to minimise tax liability. |
Option: D Explanation : Click on Discuss to view users comments. |