McqMate
| 1. |
Concealment of income or false claims to reduce tax liability are cases of ------ |
| A. | Tax evasion |
| B. | Tax planning |
| C. | Tax avoidance |
| D. | Tax management |
| Answer» A. Tax evasion | |
| 2. |
Using the loopholes of law to reduce tax is known as |
| A. | Tax evasion |
| B. | Tax planning |
| C. | Tax avoidance |
| D. | Tax management |
| Answer» C. Tax avoidance | |
| 3. |
------ is the device which satisfies the requirements of the law but not in accordance with the intentions of the law |
| A. | Tax evasion |
| B. | Tax planning |
| C. | Tax avoidance |
| D. | Tax management |
| Answer» C. Tax avoidance | |
| 4. |
Reducing tax liability, utilizing the deductions, exemptions or reliefs allowed in the Act and Rules is called---- |
| A. | Tax evasion |
| B. | Tax planning |
| C. | Tax avoidance |
| D. | Tax management |
| Answer» B. Tax planning | |
| 5. |
Compliance of the legal requirements in connection with the tax is the essence of ----- |
| A. | Tax evasion |
| B. | Tax planning |
| C. | Tax avoidance |
| D. | Tax management |
| Answer» D. Tax management | |
| 6. |
Tax avoidance is ---- |
| A. | Illegal |
| B. | Immoral |
| C. | Lawful |
| D. | All of these |
| Answer» B. Immoral | |
| 7. |
Availing tax holiday by a new industrial undertakings in backward areas is a case of |
| A. | Tax evasion |
| B. | Tax planning |
| C. | Tax avoidance |
| D. | Tax management |
| Answer» B. Tax planning | |
| 8. |
Compliance with legal formalities and availing tax incentives are cases of |
| A. | Tax evasion |
| B. | Tax planning |
| C. | Tax avoidance |
| D. | Tax management |
| Answer» D. Tax management | |
| 9. |
Return of income must be furnished on or beforethe due date as per a part of----- |
| A. | Tax evasion |
| B. | Tax planning |
| C. | Tax avoidance |
| D. | Tax management |
| Answer» D. Tax management | |
| 10. |
The total income of a domestic company is taxable at the rate of ------- |
| A. | 20% |
| B. | 30% |
| C. | 40% |
| D. | 35% |
| Answer» B. 30% | |
| 11. |
The total income of a non domestic company is taxable at the rate of---- |
| A. | 20% |
| B. | 30% |
| C. | 40% |
| D. | 35% |
| Answer» C. 40% | |
| 12. |
Under the Income-tax Act, 1961, which of the following outlays incurred by Sun Ltd. during the previous year ended 31st March, 2019 will not be admissible as deduction while computing its business income |
| A. | Contribution to a political party in cash |
| B. | Interest on loan taken for payment of income-tax |
| C. | Capital exnditure on advertisement |
| D. | All of the above |
| Answer» D. All of the above | |
| 13. |
Any corporation by or under any Central, State or Provincial Act or a Government Company as defined in the Companies Act is called ----- |
| A. | Public Sector Company |
| B. | Joint company |
| C. | Private Sector company |
| D. | Provincial Company |
| Answer» A. Public Sector Company | |
| 14. |
Any company which has made the prescribed arrangements for the declaration and payment of dividends within India is called ------ |
| A. | Domestic Company |
| B. | Non domestic company |
| C. | Public sector company |
| D. | Provincial company |
| Answer» A. Domestic Company | |
| 15. |
A company which is neither an Indian company not has made the prescribed arrangements for the declaration and payment of dividends within India is called ----- |
| A. | Domestic Company |
| B. | Foreign Company |
| C. | Public sector company |
| D. | Provincial company |
| Answer» B. Foreign Company | |
| 16. |
A company in which the public are not substantially interested is closed------ |
| A. | Open company |
| B. | Closely held company |
| C. | Limited company |
| D. | None of these |
| Answer» B. Closely held company | |
| 17. |
A person carrying not less than----- of the voting power in a company is said to have substantial interest in the company. |
| A. | 10% |
| B. | 20% |
| C. | 30% |
| D. | 40% |
| Answer» B. 20% | |
| 18. |
Section 115JB relates to ---- |
| A. | Securities Transaction Tax |
| B. | Maximum Alternative Tax |
| C. | Minimum Alternative Tax |
| D. | Surcharge |
| Answer» C. Minimum Alternative Tax | |
| 19. |
Under the Income Tax Act, 1961, depreciation on machinery is charged on ……… |
| A. | Purchase price of the machinery |
| B. | Written down value of the machinery |
| C. | Market price of the machinery |
| D. | All of the above |
| Answer» B. Written down value of the machinery | |
| 20. |
If the tax liability of a company is less than 18.5% of its book profits, the company is liable to pay MAT at the rate of ------ |
| A. | 15% of books profits plus Surcharge) if any) plus 4% HEC |
| B. | 16% of books profits plus Surcharge)if any) plus 4% HEC |
| C. | 16.5% of books profits plus Surcharge)if any) plus 4% HEC |
| D. | 18.5% of books profits plus Surcharge(if any) plus 4% HEC |
| Answer» D. 18.5% of books profits plus Surcharge(if any) plus 4% HEC | |
| 21. |
A company carry forward the eligible tax credit under MAT for a maximum of ----- |
| A. | Five assessment years |
| B. | Eight assessment years |
| C. | Ten assessment years |
| D. | Twelve assessment years |
| Answer» C. Ten assessment years | |
| 22. |
The rate of corporate dividend tax during the year 2018-19 is ------ |
| A. | 17.674% + 12% surcharge + 4% HEC |
| B. | 18. % + 12% surcharge + 4% HEC |
| C. | 19.67% + 12% surcharge + 4% HEC |
| D. | 20% + 12% surcharge + 4% HEC |
| Answer» A. 17.674% + 12% surcharge + 4% HEC | |
| 23. |
Income distributed by a money market mutual fund or liquid fund is taxable @------ |
| A. | 15% + Surcharge 10% + 4%HEC |
| B. | 20% + Surcharge 10% + 4%HEC |
| C. | 25% + Surcharge 10% + 4%HEC |
| D. | 30% + Surcharge 10% + 4%HEC |
| Answer» C. 25% + Surcharge 10% + 4%HEC | |
| 24. |
Income distributed by a fund other than a money market mutual fund or a liquid fund to an individual or HUF is subject to CDT at the rate of |
| A. | 12.5% + Surcharge 10% + 4 % HEC |
| B. | 15% + Surcharge 10% + 4 % HEC |
| C. | 20% + Surcharge 10% + 4 % HEC |
| D. | 25% + Surcharge 10% + 4 % HEC |
| Answer» A. 12.5% + Surcharge 10% + 4 % HEC | |
| 25. |
Under the head Income from House Property the basis of charge is …… |
| A. | Rent Received |
| B. | Gross Annual Value |
| C. | Annual Value |
| D. | Municipal Value |
| Answer» C. Annual Value | |
| 26. |
Tonnage tax system is exclusively intended to ------ |
| A. | Joint stock Companies |
| B. | partnership firms |
| C. | Sipping companies |
| D. | IT Companies |
| Answer» C. Sipping companies | |
| 27. |
Which among the following is not available to companies? |
| A. | 80 IB |
| B. | 80 C |
| C. | 80 G |
| D. | None of these |
| Answer» B. 80 C | |
| 28. |
MAT Provisions are applicable to---- |
| A. | Non domestic companies |
| B. | Indian companies |
| C. | Private companies |
| D. | Every Company |
| Answer» D. Every Company | |
| 29. |
Which among the following is not a widely held company |
| A. | Mutual Benefit Finance Company |
| B. | Private Limited Company |
| C. | Limited Company |
| D. | None of these |
| Answer» B. Private Limited Company | |
| 30. |
Substantial interest in the company means not less than---- of voting power |
| A. | 50% |
| B. | 20% |
| C. | 30% |
| D. | 40% |
| Answer» B. 20% | |
| 31. |
Section 115JB relates to |
| A. | Tonnage Tax |
| B. | Corporate Dividend Tax |
| C. | MAT |
| D. | GST |
| Answer» C. MAT | |
| 32. |
The Income Tax Act came into force from _______________ |
| A. | 1st March 1971 |
| B. | 1st April 1971 |
| C. | 1st March 1961 |
| D. | 1st April 1962 |
| Answer» D. 1st April 1962 | |
| 33. |
An assessee paid insurance premium against risk of damage or destruction of stocks or stores used for the purposes of his business or profession. Such expenditure shall be considered as |
| A. | Revenue expenditure |
| B. | Capital expenditure |
| C. | Deferred revenue expenditure |
| D. | Illegal expenditure |
| Answer» A. Revenue expenditure | |
| 34. |
_______________ is the casual income. |
| A. | Interest received |
| B. | Dividend income |
| C. | Pension received |
| D. | Winning from lotteries |
| Answer» D. Winning from lotteries | |
| 35. |
Pension is _______________ under the salary head. |
| A. | Fully taxable |
| B. | Partially taxable |
| C. | Not taxable |
| D. | None of the above |
| Answer» A. Fully taxable | |
| 36. |
salary of Member of Parliament is taxable under the head _______________ |
| A. | Salary |
| B. | Income from Other Sources |
| C. | Income from Business |
| D. | All of the above |
| Answer» B. Income from Other Sources | |
| 37. |
The salary, remuneration or compensation received by the partners is taxable under the head ----- |
| A. | Income from Other Sources |
| B. | Income from Business |
| C. | Salary |
| D. | None of the above |
| Answer» B. Income from Business | |
| 38. |
In accordance with the provisions of Section 17(1) of Income Tax Act, 1961, the term salary includes _______________ |
| A. | Any annuity or pension |
| B. | Any gratuity |
| C. | Any fees, commission, perquisite or profits in lieu of or in addition to any salary orwages |
| D. | All of the above |
| Answer» D. All of the above | |
| 39. |
Under the Income-tax Act, 1961, 'notional profit' from speculative business is – |
| A. | Taxable under the head 'income from profits and gains of business and profession |
| B. | Taxable under the head 'income from other ' sources' |
| C. | Taxable either as income from other sources or as income from profits and gains of business and profession |
| D. | Not taxable. |
| Answer» B. Taxable under the head 'income from other ' sources' | |
| 40. |
The books of accounts are to be kept and maintained for a period of how many years from the end of the relevant assessment year. |
| A. | 6 years |
| B. | 5 years |
| C. | 8 years |
| D. | Unlimited period |
| Answer» A. 6 years | |
| 41. |
Alternate Minimum Tax shall not be applicable to a non-corporate assessee who has claimed any deduction under: |
| A. | Sections 80-IA to 80RRB |
| B. | section 80P |
| C. | Section 10AA |
| D. | Section 35AD |
| Answer» B. section 80P | |
| 42. |
Under the Income-tax Act, 1961, interest on capital received by a partner from a partnership firm is chargeable under the head |
| A. | Profits and gains of business or profession |
| B. | Income from other sources |
| C. | Capital gains |
| D. | None of the above |
| Answer» A. Profits and gains of business or profession | |
| 43. |
The employer made a contribution of Rs 25,000 to recognized provident fund for the previous year 2018-19. Such payment was made on 12th March, 2019. Such expenditure shall be considered as |
| A. | Revenue expenditure |
| B. | Capital expenditure |
| C. | Deferred revenue expenditure |
| D. | None of the above |
| Answer» A. Revenue expenditure | |
| 44. |
Income tax rates are fixed in…………….. |
| A. | Income tax Act |
| B. | Finance Act |
| C. | Income tax rules |
| D. | Finance rules |
| Answer» B. Finance Act | |
| 45. |
Section 2(9) of Income tax deals with………….. |
| A. | Person |
| B. | Assessee |
| C. | Previous Year |
| D. | Assessment Year |
| Answer» D. Assessment Year | |
| 46. |
CBDT stands for ………………………….. |
| A. | Central Bureau of Direct Taxes |
| B. | Central Board of Direct Taxes |
| C. | Citizen’s Board of Direct Taxes |
| D. | Citizen’s Bureau of Direct Taxes |
| Answer» B. Central Board of Direct Taxes | |
| 47. |
Dividend from an Indian Company is ………………… |
| A. | Fully Taxable |
| B. | Partly Taxable |
| C. | Fully Exempted |
| D. | None of these |
| Answer» C. Fully Exempted | |
| 48. |
Previous year means the financial year immediately preceding the…………………... |
| A. | Accounting Year |
| B. | Assessment Year |
| C. | All of the above |
| D. | None of the above |
| Answer» B. Assessment Year | |
| 49. |
………… is exempted from income tax. |
| A. | Interest from Indian company |
| B. | Dividend from foreign company |
| C. | Cooperative dividend |
| D. | Dividend from Indian company |
| Answer» D. Dividend from Indian company | |
| 50. |
Profits earned from an illegal business are............... |
| A. | Taxable. |
| B. | Tax free. |
| C. | Ignored by Tax Authorities. |
| D. | treated as other income. |
| Answer» A. Taxable. | |
| 51. |
Subletting is assessable under the head ………………… |
| A. | Income from HP |
| B. | Income from Other Source |
| C. | Income from Capital Gain |
| D. | None of the above |
| Answer» B. Income from Other Source | |
| 52. |
Preliminary expenses incurred are allowed deduction in: |
| A. | 10 equal annual instalments |
| B. | 5 equal annual instalments |
| C. | full |
| D. | None of these |
| Answer» B. 5 equal annual instalments | |
| 53. |
Educational cess is levied in case of ……….. |
| A. | Individual |
| B. | HUF |
| C. | Company |
| D. | All assesses |
| Answer» D. All assesses | |
| 54. |
As per section 2(31), the following is not included in the definition of 'person' |
| A. | An individual |
| B. | A Hindu undivided family |
| C. | A company |
| D. | A minor |
| Answer» D. A minor | |
| 55. |
Amendments by the finance act are made applicable from |
| A. | First day of next financial year |
| B. | First day of same financial year |
| C. | Last day of same Accounting year |
| D. | None of the above |
| Answer» A. First day of next financial year | |
| 56. |
Assessee is having stock existing in the business. Valuation of stock will be at: |
| A. | Cost price |
| B. | Market price |
| C. | Cost or market price, whichever is less |
| D. | Cost or market price, whichever is more |
| Answer» C. Cost or market price, whichever is less | |
| 57. |
Which is the charging section of income under the head profits and gains of business or profession? |
| A. | Section 15 |
| B. | Section 24 |
| C. | Section 28 |
| D. | Section 17 |
| Answer» C. Section 28 | |
| 58. |
Which of the following taxes are allowed as deduction while computing the business income? |
| A. | Wealth-tax |
| B. | Income-tax |
| C. | Sales tax |
| D. | None of the above |
| Answer» C. Sales tax | |
| 59. |
As per section 30, which expenditure incurred for a building used for the business or profession shall not be allowed as deduction? |
| A. | Rent, rates and taxes |
| B. | Insurance of building |
| C. | Repairs of building |
| D. | Capital expenditure |
| Answer» D. Capital expenditure | |
| 60. |
.Group of assets falling within a class of assets comprising of tangible & intangible assets is known as : |
| A. | Group of assets |
| B. | Block of assets |
| C. | Set of assets |
| D. | Cluster of assets |
| Answer» B. Block of assets | |
| 61. |
A short term capital asset means a capital asset held by the assesse for not more than |
| A. | 12 Months immediately preceding the month of its transfer |
| B. | 24 Months immediately preceding the month of its transfer |
| C. | 36 Months immediately preceding the month of its transfer |
| D. | None of these |
| Answer» C. 36 Months immediately preceding the month of its transfer | |
| 62. |
-------- are treated as agricultural income |
| A. | Income from poultry farm |
| B. | Income from bee heaving |
| C. | Purchase of standing crops |
| D. | All of these |
| Answer» D. All of these | |
| 63. |
Long term capital loss can be set off against ----- |
| A. | Long term capital loss |
| B. | Short term capital loss |
| C. | Long term capital gain |
| D. | All of these |
| Answer» C. Long term capital gain | |
| 64. |
Clubbing of income means |
| A. | Adding income of two persons |
| B. | Inclusion of income of other person in assessee’sincome |
| C. | Total income of various heads |
| D. | Collection of income |
| Answer» B. Inclusion of income of other person in assessee’sincome | |
| 65. |
Income from horse race falls under the head |
| A. | Salary |
| B. | Other sources |
| C. | Profession |
| D. | Business |
| Answer» B. Other sources | |
| 66. |
Which of the following is not taxable under the head income from other sources? |
| A. | Family pension |
| B. | Sum received under Keyman Insurance Policy |
| C. | Rent received on letting of business |
| D. | Salary to a member of parliament |
| Answer» C. Rent received on letting of business | |
| 67. |
PAN stands for |
| A. | Private bank Number |
| B. | Permanent Account Number |
| C. | Personal Account Number |
| D. | Passive Account Number |
| Answer» B. Permanent Account Number | |
| 68. |
Donation is deductible under section |
| A. | 80 C |
| B. | 80D |
| C. | 80 E |
| D. | 80 G |
| Answer» D. 80 G | |
| 69. |
Return filed after the due date is called |
| A. | Revised return |
| B. | Best return |
| C. | Belated return |
| D. | Defective return |
| Answer» C. Belated return | |
| 70. |
Tax deduction available to certain industries for the initial few years is called----- |
| A. | Tax Holiday |
| B. | Tax |
| C. | TDS |
| D. | Advance |
| Answer» A. Tax Holiday | |
| 71. |
An assessee was engaged in the business of cattle rearing. He incurred a loss in respect of animals which were used for the purposes of his business (otherwise than as stock-in trade) and which have died. Such expenditure shall be considered as |
| A. | Revenue expenditure |
| B. | Capital expenditure |
| C. | Deferred revenue expenditure |
| D. | Illegal expenditure |
| Answer» A. Revenue expenditure | |
| 72. |
The loss from speculation business can be set off against |
| A. | Any income |
| B. | Not any income |
| C. | Non speculative business |
| D. | Speculative business only |
| Answer» D. Speculative business only | |
| 73. |
Minor’s income is clubbed to ----- |
| A. | Father’s income |
| B. | Mother’s income |
| C. | Father’s income or mother’s income whichever is grater |
| D. | Both mother’s and father’s income |
| Answer» C. Father’s income or mother’s income whichever is grater | |
| 74. |
------ deals with PAN |
| A. | Section 140 |
| B. | Section 140 (A) |
| C. | Section 140 (B) |
| D. | Section 140 (C) |
| Answer» B. Section 140 (A) | |
| 75. |
------ is a casual income |
| A. | Interest received |
| B. | Dividend income |
| C. | Person received |
| D. | Winning from lotteries |
| Answer» D. Winning from lotteries | |
| 76. |
An assessee was engaged in the business of dealing in commodities. He had paid Commodities transaction tax of Rs.15,000 in respect of the taxable commodities transactions. Income arising of Rs 3,00,000 from such taxable commodities transactions was included in the income computed under the head "Profits and gains of business or profession”. Such expenditure of payment of Commodities transaction tax shall be considered as |
| A. | Revenue expenditure |
| B. | Capital expenditure |
| C. | Speculative transaction expenditure |
| D. | Illegal expenditure |
| Answer» A. Revenue expenditure | |
| 77. |
--------- is the implementation of the plan of tax |
| A. | Tax evasion |
| B. | Tax avoidance |
| C. | Tax management |
| D. | None of these |
| Answer» C. Tax management | |
| 78. |
Which of the following is an objective of tax management? |
| A. | Minimize litigation |
| B. | Productive investment |
| C. | Compliance with legal formalities |
| D. | Healthy growth of economy |
| Answer» C. Compliance with legal formalities | |
| 79. |
The method by which a person illegally reduces his tax burden by either deflating their income or inflating their expenses is known as |
| A. | Tax planning |
| B. | Tax evasion |
| C. | Tax management |
| D. | Tax avoidance |
| Answer» B. Tax evasion | |
| 80. |
------ refers to hedging of tax? |
| A. | Tax planning |
| B. | Tax evasion |
| C. | Tax management |
| D. | Tax avoidance |
| Answer» D. Tax avoidance | |
| 81. |
Company is defined under |
| A. | Section 2 (17)of the Income Tax Act |
| B. | Section 2 (32)of the Income Tax Act |
| C. | Section 2 (14)of the Income Tax Act |
| D. | Section 2 (12)of the Income Tax Act |
| Answer» A. Section 2 (17)of the Income Tax Act | |
| 82. |
Whichof the following deals with Domestic Company? |
| A. | Sec 2 (234) |
| B. | Sec 2 (224) |
| C. | Sec 2 (22) |
| D. | Sec 2 (26) |
| Answer» B. Sec 2 (224) | |
| 83. |
Section 2 (234) relates to |
| A. | Indian company |
| B. | Domestic company |
| C. | Foreign company |
| D. | Widely held company |
| Answer» C. Foreign company | |
| 84. |
A company in which the public is not substantially interested is known as |
| A. | Domestic company |
| B. | Foreign company |
| C. | Widely held company |
| D. | Closely held company |
| Answer» C. Widely held company | |
| 85. |
Section 80 JJAA deals with |
| A. | Deduction in respect of produced companies |
| B. | Production in respect of certain incomes |
| C. | Deduction in respect of employment of new employee |
| D. | Deduction in respect of profits and gains from undertakings an enterprise in special category states |
| Answer» C. Deduction in respect of employment of new employee | |
| 86. |
Expenditure incurred by an hotelier on replacement of linen and carpets in his hotel. Such expenditure shall be considered as |
| A. | Revenue expenditure |
| B. | Deferred revenue expenditure |
| C. | Capital expenditure |
| D. | Illegal expenditure |
| Answer» A. Revenue expenditure | |
| 87. |
The maximum deduction available under section 80 C is |
| A. | Rs50000 |
| B. | Rs100000 |
| C. | Rs150000 |
| D. | Rs200000 |
| Answer» C. Rs150000 | |
| 88. |
The Presumptive Taxation Scheme of Section 44 AD can be adopted by |
| A. | Resident Individual tax payers |
| B. | Hindu Undivided Families |
| C. | Partnership firms except Limited Liability Partnership Firms |
| D. | All of these |
| Answer» D. All of these | |
| 89. |
Deemed dividend is defined in |
| A. | Section 2 (22)(a) |
| B. | Section 2 (21)(a) |
| C. | Section 2 (23)(a) |
| D. | Section 2 (22)(c) |
| Answer» A. Section 2 (22)(a) | |
| 90. |
80 ID deals with tax holiday for |
| A. | Hospitals |
| B. | Hotels |
| C. | Natural gas |
| D. | Eligible business |
| Answer» B. Hotels | |
| 91. |
An assessee incurred expense of tax on non monetary perquisites of employees. Such expenditure shall be considered as |
| A. | Revenue expenditure |
| B. | Deferred revenue |
| C. | Capital expenditure |
| D. | Expressly disallowed |
| Answer» D. Expressly disallowed | |
| 92. |
Flat rate of corporate tax for a domestic company with annual turnover up to Rs250 crore is |
| A. | 15% |
| B. | 25% |
| C. | 30% |
| D. | 35% |
| Answer» B. 25% | |
| 93. |
Flat rate of corporate tax for a domestic company with annual turnover more than Rs250 crore is |
| A. | 15% |
| B. | 25% |
| C. | 30% |
| D. | 35% |
| Answer» C. 30% | |
| 94. |
Flat rate of corporate tax for a foreign company is |
| A. | 15% |
| B. | 25% |
| C. | 30% |
| D. | 40%% |
| Answer» D. 40%% | |
| 95. |
Which of the following shall not be regarded as capital asset? |
| A. | Jewellery |
| B. | Rural Agricultural land |
| C. | Archaeological Collections |
| D. | Paintings |
| Answer» B. Rural Agricultural land | |
| 96. |
Which of the following is not a capital expense? |
| A. | Installation expenditure of plant of a company. |
| B. | Legal expenses for reduction of capital. |
| C. | Commission to employees to achieve sales Targets. |
| D. | Expenses of promoting a company. |
| Answer» C. Commission to employees to achieve sales Targets. | |
| 97. |
Which of the following donations is eligible for 100 % deduction? |
| A. | Help to poor |
| B. | National DefenceFund |
| C. | Rajive Gandhi Foundation |
| D. | Any notified temple |
| Answer» B. National DefenceFund | |
| 98. |
Indexation is applicable to....................... |
| A. | Sale of short term capital assets. |
| B. | Sale of long term debentures. |
| C. | Sale of depreciable capital assets. |
| D. | Sale of long term capital assets which are not depreciable assets |
| Answer» D. Sale of long term capital assets which are not depreciable assets | |
| 99. |
XYZ & Co. incurred a liability by giving discount on issue of debentures. Such expenditure shall be considered as |
| A. | Revenue expenditure |
| B. | Deferred revenue expenditure |
| C. | Capital expenditure |
| D. | Illegal expenditure |
| Answer» B. Deferred revenue expenditure | |
| 100. |
The objectives of tax planning is to minimise .........? |
| A. | tax liability |
| B. | finance liability |
| C. | tax return |
| D. | none of these |
| Answer» A. tax liability | |
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