Latest, Top, Free, Best Presumptive Taxation for Businesses Interview Questions and Answers - Presumptive Taxation for Businesses Job Interview FAQs, Queries, Tips, Sample Papers, Exam Papers

CoolInterview.com - World's Largest Collection of Interview Questions & Answers, FAQs, queries, sample papers, exam papers, dumps, what, why, how, where, when questions

OneStopTesting.com - Testing EBooks, Tutorials, Articles, Jobs, Training Institutes etc.
OneStopGate.com - Gate EBooks, Tutorials, Articles, FAQs, Jobs, Training Institutes etc.
OneStopMBA.com - MBA EBooks, Tutorials, Articles, FAQs, Jobs, Training Institutes etc.
OneStopIAS.com - IAS EBooks, Tutorials, Articles, FAQs, Jobs, Training Institutes etc.
OneStopSAP.com - SAP EBooks, Tutorials, Articles, FAQs, Jobs, Training Institutes etc.
OneStopGRE.com - of GRE EBooks, Tutorials, Articles, FAQs, Jobs, Training Institutes etc.

Sponsored Links

Interview Questions

Advertisements	Presumptive Taxation for Businesses Interview Questions
COOLINTERVIEW.COM INCOME TAX INTERVIEW QUESTIONS PRESUMPTIVE TAXATION FOR BUSINESSES INTERVIEW QUESTIONS QUESTIONS LISTING
	Presumptive Taxation for Businesses Interview Questions & Answers Below we have listed all the Presumptive Taxation for Businesses Interview Questions and answers. Feel free to comment on any Presumptive Taxation for Businesses Interview Questions or answer by the comment feature available on the page. To buy an eBook containing 30,000 Interview Questions, with Answers, Click Here. View All Presumptive Taxation for Businesses Interview Questions & Answers - Exam Mode / Learning Mode
Presumptive Taxation for Businesses Interview Questions & Answers
To give relief to small taxpayers from this tedious work, the Income-tax Act has framed the presumptive taxation scheme under sections 44AD and 44AE. A person adopting the presumptive taxation scheme can declare income at a prescribed rate and, in turn, is relieved from tedious job of maintenance of books of account. To give relief to small taxpayers from the tedious job of maintenance of books of account and from getting the accounts audited, the Income-tax Act has framed the presumptive taxation scheme under sections 44AD, section 44ADA and section 44AE. In this part you can gain knowledge about various provisions of the presumptive taxation scheme of section 44AD, section 44ADA and section 44AE. As per the Income-tax Act, a person engaged in business or profession is required to maintain regular books of account and further, he has to get his accounts audited. To give relief to small taxpayers from this tedious work, the Income-tax Act has framed the presumptive taxation sche

1 2 3 Next

Sort By : Latest First | Oldest First | By Rating

Question	Rating	View Answer
If a person adopts the presumptive taxation scheme of Section 44ADA, then is he liable to pay advance tax in respect of income from profession covered under section 44ADA?		View Answer
In case the Tax Payer has made income tax payments under Presumptive Taxation, can he claim the allowance of Rs. 7,500 for his goods vehicle per month?		View Answer
The scheme of section 44AE is designed to give relief to small taxpayers engaged in the business of__________. (a) Plying, hiring or leasing of goods carriages (b) Provision store (c) Medical store (d) Departmental store		View Answer
Who is eligible to take advantage of the Presumptive Taxation?		View Answer
What provisions will apply if a person does not operate his goods vehicles at Rs. 7,500 per month but at a lower rate?		View Answer
A partnership firm adopting the provisions of section 44AE can claim further deduction on account of remuneration and interest paid to partners (computed as per the Income-tax Act) from the income computed at the rate of Rs. 7,500 per goods vehicle per month or part thereof. (a) True (b) False		View Answer
What provisions will apply if a person who is eligible for the presumptive taxation scheme of section 44AD declares his income at a lower rate (i.e. less than 8%)?		View Answer
The presumptive taxation scheme of section 44AD cannot be adopted by __________. (a) Resident Individual (b) Resident HUF (c) Resident Partnership Firm (d) Limited Liability Partnership Firm		View Answer
What is the manner of Computation of Taxable Income for Goods Vehicle, in case of Presumptive Taxation Scheme?		View Answer
Can a person whose total turnover or gross receipts for the year exceed Rs. 2,00,00,000 adopt the presumptive taxation scheme of section 44AD?		View Answer
If a person adopts the presumptive taxation scheme of section 44AE, then is he liable to pay advance tax in respect of income from business covered under section 44AE?		View Answer
Who is eligible to take advantage of the Presumptive Taxation Scheme of Section 44AD?		View Answer
The Presumptive Taxation Scheme of sections 44AE can be adopted by a person who is engaged in the business of plying, hiring or leasing goods carriages and who does not own more than 10 goods vehicles at any time during the year. True or False?		View Answer
While computing income as per the provisions of section 44AD, separate deduction on account of depreciation is available. (a) True (b) False		View Answer
If a person adopts the presumptive taxation scheme of section 44AE, then is he required to maintain books of account as per section 44AA?		View Answer
What provision will apply if a person opt for the presumptive taxation scheme of section 44ADA and declares his income from profession at lower rate (i.e. less than 50%)?		View Answer
What is the manner of computation of taxable business income in case of a person adopting the Presumptive Taxation Scheme of Section 44AD?		View Answer
The presumptive taxation scheme of section 44AE can be adopted by a person who is engaged in the business of plying, hiring or leasing of goods carriages and who does not own more than ________ goods vehicles at any time during the year. (a) 50 (b) 30 (c) 10 (d) 5		View Answer
If a person adopts the presumptive taxation scheme, then for how long does he is required to maintain the same?		View Answer
In case of a person who is willing to opt for the presumptive taxation scheme of section 44AE, income will be computed @ Rs. 5,000 per month during which the goods vehicle is owned by him during the year and part of the month would be ignored. (a) True (b) False		View Answer