1. Every non-corporate taxpayer to whom the provisions of AMT apply is required to obtain a report from a chartered accountant in Form No. _____ on or before the due date of filing the return of income

2. Beta Ltd. of Mumbai is subsidiary of Unity Inc. of USA. Beta Ltd. purchased goods from Unity Inc. Transfer pricing adjustment would arise between them when

3. Penalty for failure to furnish statement of financial transaction is

4. Notice u/s 143(2) (i.e. notice of scrutiny assessment) should be served within a period of _______from the end of the financial year in which the return is filed.

5. Tax payable by domestic companies u/s 115BA is:

6. Deduction u/s 80 IAC for eligible start-ups is @ 100% for:

7. For every non corporate taxpayer to whom the provisions of AMT apply is required to obtain a report from a Chartered Accountant in Form _______ on or before the due date of filling the return of income.

8. BG(P) Ltd. received royalty ?10 lakhs in respect of a patent developed and registered in India. The income-tax payable on the royalty shall be at

9. The rate of minimum Alternative Tax for unit located in International Financial Services Centre is:

10. Principal Commissioner or Commissioner of Income-tax is empowered to grant relief from penalty to tax payers in genuine cases. Such power is granted under section 273A and section _______.

11. When interest paid by an Indian company to a foreign company being an associated enterprise, such interest must not exceed ________% of the Indian company's earnings before interest, taxes, depreciation and amortization (EBITDA).

12. Venus Traders engaged in turmeric trade with a turnover exceeding ?200 lakhs dispatched its goods through Indian Railways. The amount of freight payable as on 31.03.2017 was ?1,40,000. It wants to claim the freight as expenditure. To satisfy such claim, it has to pay the freight to Indian Railways

13. An application (in quadruplicate) for advance ruling by a resident applicant for determination of his tax liability arising out of one or more transactions valuing ?100 crore or more in total which has been undertaken or is proposed to be undertaken by him is to be made in Form No._____.

14. In the case of non-government employee the monetary limit for exemption in respect of leave salary at the time of retirement is

15. The objective of carrying out assessment u/s 147 is to bring under the tax net _________

16. As per section 142(2A), the tax authorities can direct the taxpayer to get his accounts audited from a _______ nominated by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner.

17. Application made to the authority for advance ruling can be withdrawn after the lapse of _____ days period of application with the permission of authority if facts and circumstances so justify.

18. TDS on income from Investment in securitization fund is covered under section

19. MAT shall not apply to any income accruing or arising to a company from

20. A capital asset being shares in a private company held for more than _______ months shall be a long term capital asset.

21. Which of the following company is not liable to pay MAT u/s 115JB:

22. As per sec. 94B, interest expenses claimed by an entity to its associated enterprises shall be restricted to _____ of its earnings before interest, taxes, depreciation and amortization (EBITDA) or interest paid or payable to associated enterprise, whichever is less.

23. The Commissioner of Income-tax (Appeals) is the ________ appellate authority

24. Which of the following mistake is not rectifiable u/s 154:-

25. If the amount of income in respect of which the penalty is imposed or imposable for the relevant year(s) exceeds ?_______, then no order reducing or waiving the penalty under section 273A (1) shall be made by the Principal Commissioner or Commissioner, except with the previous approval of the Principal Chief Commissioner or Chief Commissioner or Principal Director General or Director General, as the case may be