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Thread: PCC - Objective Questions in Income Tax.

  1. #31
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    Thumbs up Multiple Choice Questions (Finance Act 2008).

    Q. 31. Income which accrue outside India from a business controlled from India is taxable in case of:

    a) Resident only
    b) Not ordinarily resident only
    c) Both ordinarily resident and NOR
    d) Non-resident

    Ans. c) Both ordinarily resident and NOR.

  2. #32
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    Thumbs up Multiple Choice Questions (Finance Act 2008).

    Q. 32. Income which accrue or arise outside India and also received outside India taxable in case of:

    a) resident only
    b) not ordinarily resident
    c) both ordinarily resident and NOR
    d) none of the above

    Ans. a) resident only.

  3. #33
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    Thumbs up Multiple Choice Questions (Finance Act 2008).

    Q. 33. TI of a person is determined on the basis of his:

    a) residential status in India
    b) citizenship in India
    c) none
    d) both of the above

    Ans. a) residential status in India.

  4. #34
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    Thumbs up Multiple Choice Questions (Finance Act 2008).

    Q. 34. Once a person is a resident in a P.Yr. he shall be deemed to be resident for subsequent P. Yr.

    a) True
    b) False

    Ans. b) False.

  5. #35
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    Thumbs up Multiple Choice Questions (Finance Act 2008).

    Q. 35. Once a person is resident for a source of income in a particular P. Y r. he shall be deemed to be resident for all other sources of income in the same P. Yr :

    a) True
    b) False

    Ans. b) False.

  6. #36
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    Thumbs up Multiple Choice Questions (Finance Act 2008).

    Q. 36. R Ltd., is an Indian company whose entire control and management of its affairs is situated outside India. R Ltd., shall be :

    a) Resident in India
    b) Non-resident in India
    c) Not ordinarily resident in India

    Ans. a) Resident in India.

  7. #37
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    Thumbs up Multiple Choice Questions (Finance Act 2008).

    Q. 37. R Ltd., is registered in U.K. The control and management of its affairs is situated in India .R Ltd shall be :

    a) Resident in India
    b) Non-resident
    c) Not ordinarily resident in India

    Ans. b) Non-resident.

  8. #38
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    Thumbs up Multiple Choice Questions (Finance Act 2008).

    Q. 38. R, a foreign national visited India during previous year 2008-09 for 180 days. Earlier to this he never visited India. R in this case shall be:

    a) Resident in India
    b) Non-resident
    c) Not ordinarily resident in India

    Ans. b) Non-resident.

  9. #39
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    Thumbs up Multiple Choice Questions (Finance Act 2008).

    Q. 39. An Indian company is always resident in India

    a) True
    b) False

    Ans. a) True.

  10. #40
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    Thumbs up Multiple Choice Questions (Finance Act 2008).

    Q. 40. Dividend paid by an Indian company is:

    a) Taxable in India in the hands of the recipient
    b) Exempt in the hands of recipient
    c) Taxable in the hands of the company and exempt in the hands of the recipient

    Ans. c) Taxable in the hands of the company and exempt in the hands of the recipient.

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