Consider the following statements (i) Corporate taxes are taxes against profits earned by business during a given taxable period. (ii) A tax payer distributes the incidence of tax and provides for a simple and convenient mode of payment. Which of the following statement is/are correct?

Consider the following statements (i) Corporate taxes are taxes agains

1.	Consider the following statements (i) Corporate taxes are taxes against profits earned by business during a given taxable period. (ii) A tax payer distributes the incidence of tax and provides for a simple and convenient mode of payment. Which of the following statement is/are correct?
A.	Only I
B.	Only II
C.	Both I and II
D.	None of these
Answer» B. Only II

Discussion

No Comment Found

Related MCQs

Which statement is correct regarding FDI? I. FDI is a non-debt capital flow, is a leading source of external financing, especially for the developing economies. II. It not only brings in capital and technical know- how but also increases the competitiveness of the economy. III. Overall it supplements domestic investment, much required for sustaining the high growth rate of the country. IV. Since 2000, significant changes have been made in the FDI policy regime by the government to ensure that India becomes an increasingly attractive and investor-friendly destination.
Consider the following statements: I. Agriculture, horticulture, poultry, fisheries and dairying have been included in export-oriented units. II. Export processing zone units have also been allowed to export through trading and star trading houses and can have equipment on lease. Which of the following statements are true regarding Export Units:
Which points are correct regarding SEZ act? I. Exemption to SEZ developer and units from Minimum Alternate Tax. II. Constitution of an authority for each SEZ with a view to providing greater administrative, financial and functional autonomy to these zones. III. Establishment of designated courts and a single enforcement agency to ensure speedy trial and investigation of offences committed in SEZs.
What are the objectives of SEZ act? I. Generation of additional economic activity. II. Promotion of exports of goods & services. III. Promotion of investment from domestic and foreign sources. IV. Creation of employment opportunities
Which of the below statements are correct regarding exchange trade? I. The value of rupee was managed by the state bank II. The strict foreign exchange controls also encouraged hawala trade III. India followed a strongly inward looking policy, laying stress on import substitution
Why there was the need for export promotion in India?I. Primary products exporting countries have an unfavourable term of trade. The earnings from primary product exports were low and unstableII. Secondly, the quality of Indian products was not up to the world standards due to which we could not sustain markets.III. Third, only residue products were mainly exported. The fact that export earnings also contribute to economic development was overlooked.
What are the factors on which import substitution strategy was based on? I. Non price II. Physical interventionist policies like licensing. Quotas and other physical restrictions on imports
Which unit of valuation is known as 'paper gold'?
Which statement is incorrect regarding balance of payment? I. BoP compares the dollar difference of the amount of exports and imports, including all financial exports and imports. II. A negative balance of payments means that more money is flowing out of the country than coming in and vice versa. III. The balance of payment is maintained by State Bank of India
Which statement is correct regarding Current account? I. Those transactions arising out of exports and imports (the visible items) II. It is a statistical statement of all transactions made between one particular country and all other countries during a specified period of time III. This account is the summary of all international trade transactions of the domestic country in one year

Consider the following statements (i) Corporate taxes are taxes against profits earned by business during a given taxable period. (ii) A tax payer distributes the incidence of tax and provides for a simple and convenient mode of payment. Which of the following statement is/are correct?

Discussion

No Comment Found

Related MCQs

Reply to Comment