This quiz works best with JavaScript enabled. Home > Finance > Taxation > Tax Planning > Tax Planning – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Tax Planning Quiz 4 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. If ..... receive to Government employee then only exemption is allowed. A) Daily allowance. B) Conveyance allowance. C) Entertainment allowance. D) None of the above. Show Answer Correct Answer: C) Entertainment allowance. 2. ..... is known as white collar crime. A) Tax management. B) Tax evasion. C) Tax management. D) Tax avoidance. Show Answer Correct Answer: B) Tax evasion. 3. What the types of income are subjects to progressive tax rates? A) Investment income. B) Other income. C) Employment income. D) Self-employment income. Show Answer Correct Answer: D) Self-employment income. 4. U/s 44AB the audit of accounts is compulsory if total sales exceed: A) 50 lakhs. B) 80 lakhs. C) One crore. D) 70 lakhs. Show Answer Correct Answer: C) One crore. 5. Tax planning aim ofPractice A) Hedging of tax. B) Concealment of tax. C) Saving of tax. D) None of the above. Show Answer Correct Answer: C) Saving of tax. 6. Donation is deductible u/s ..... A) 80 C. B) 80 E. C) 80 G. D) 80D. Show Answer Correct Answer: C) 80 G. 7. What is the impact of taxes on cash flow? A) They have no impact. B) They increase cash flow. C) They reduce cash flow. D) They double cash flow. Show Answer Correct Answer: A) They have no impact. 8. Bambang Eko is an employee at the PT Candra Kirana company, married without children, earning a month's salary of IDR 8, 000, 000.00. PT Candra Kirana participates in the BPJS Employment program, Work Accident Insurance premiums and Death Insurance premiums are paid by the employer at 0.50% and 0.30% of salary respectively. PT Candra Kirana covers monthly Old Age Security contributions of 3.70% of salary while Bambang Eko pays Old Age Security contributions of 2.00% of monthly salary. Apart from that, PT Candra Kirana also participates in a pension program for its employees. PT Candra Kirana pays pension contributions for Bambang Eko to a pension fund, the establishment of which has been approved by the Minister of Finance, every month in the amount of Rp. 200, 000.00, while Bambang Eko pays pension contributions of Rp. 100, 000.00. The amount of Income Tax Article 21 per month Gross Up? A) 162.000. B) 157.000. C) 142.000. D) 147.000. Show Answer Correct Answer: D) 147.000. 9. An ..... means a natural human being. It includes a male, a female, minor or major and a lunatic. A) Firm. B) Association of person. C) Individual. D) All the above. Show Answer Correct Answer: C) Individual. 10. Showing lesser income than the actual income is the case of A) Tax planning. B) Tax avoidance. C) Tax evasion. D) All of the above. Show Answer Correct Answer: C) Tax evasion. 11. Tax avoidance is: A) Legal and expected of taxpayers. B) Illegal and will be prosecuted. C) Structuring transactions so that taxes are minimized. D) Both legal and expected of taxpayers and structuring transactions so that taxes are minimized. Show Answer Correct Answer: D) Both legal and expected of taxpayers and structuring transactions so that taxes are minimized. 12. An audit technique that aims to trace differences between commercial financial reports and fiscal reports is usually called A) Reconciliation/Equalization. B) Fiscal Profit and Loss. C) Positive Correction. D) Income Tax payable. Show Answer Correct Answer: A) Reconciliation/Equalization. 13. Full name of Kasi Dapot before Pak Cahyo A) Adriantinopietsinaga. B) AdrianNapitupoulou. C) AdrianiNovitaSinaga. D) AdrianiNopitaSinaga. Show Answer Correct Answer: D) AdrianiNopitaSinaga. 14. 7-How much percentage of income from the manufacture of tea is considered as business income. A) 20%. B) 40%. C) 30%. D) 10%. Show Answer Correct Answer: B) 40%. 15. Who is Super Senior Citizen as per Income Tax Act? A) Age above 80. B) Age above 60. C) Age below 80. D) None of the above. Show Answer Correct Answer: A) Age above 80. 16. Efficiency strategies for companies that have gross revenues of more than IDR 50 billion are, except..... A) There is no distribution of food in the form of boxes. B) There are no gifts in the form of basic necessities to employees. C) Increase distribution in kind. D) There are no health check facilities. Show Answer Correct Answer: C) Increase distribution in kind. 17. Mary gifts 2, 000 ordinary £ 1 shares in XYZ Ltd to her granddaughter Emily on 31 May 2023. The market value of the shares on 31 May 2023 was £ 5.25 per share. What is the stamp duty due? A) £ Nil. B) £ 55.00. C) £ 50.00. D) £ 52.50. Show Answer Correct Answer: A) £ Nil. 18. What determines residence status for tax purposes in Malaysia? A) The age of individual. B) The type of employment. C) The number of relatives. D) The duration of stay. Show Answer Correct Answer: C) The number of relatives. 19. ..... refers to compliance with the income tax rules and regulations A) Tax management. B) Tax planning. C) Both of them. D) None of the above. Show Answer Correct Answer: A) Tax management. 20. ..... is a method reducing tax incidence by availing of certainloopholes in the law A) Tax avoidance. B) Tax management. C) Tax evasion. D) Tax planning. Show Answer Correct Answer: A) Tax avoidance. 21. Equalization of PPh 21 is carried out between Objects of PPh Article 21 and..... A) Salary costs and income tax benefits. B) Consultant fees and premium fees. C) Management and Transportation Costs. D) Purchase Fees and Other Fees. Show Answer Correct Answer: A) Salary costs and income tax benefits. 22. What determines residence status for taxes purposes in Malaysia A) The duration of stay. B) The number of relatives. C) The age of the individual. D) The type of employment. Show Answer Correct Answer: A) The duration of stay. 23. What can you deduct from your taxable income for tax purposes? A) Interest from foreign banks. B) Dividend from Malaysian companies. C) Interest from Malaysian government securities. D) Dividend from foreign companies. Show Answer Correct Answer: C) Interest from Malaysian government securities. 24. Merry is one of the street vendors in DP3, she has a rather fat female friend who often comes over, what is her name? A) Theresa. B) Elizabeth. C) Daughter. D) Klaudya. Show Answer Correct Answer: A) Theresa. 25. For parties who are deducted, the right to credit is not automatic, therefore to be able to credit the company must fulfill the following conditions, except A) Must be supported by asii cutting evidence. B) The crediting year must match the year stated on the deduction receipt. C) The cutting party must sign. D) The type of tax listed on the withholding slip and SSP must be correct. Show Answer Correct Answer: C) The cutting party must sign. 26. What is the minimum age to file income tax? A) 18. B) 21. C) 15. D) None. Show Answer Correct Answer: D) None. 27. The basis for the imposition and deduction of Income Tax Article 21 is..... A) Total income exceeding IDR 900, 000 a day, which applies to Non-Permanent Employees or Casual Workers who receive daily wages, weekly wages, piece wages or piece wages, as long as the cumulative income received in 1 (one) calendar month does not exceed IDR 4, 500, 000 .00. B) Non-Permanent Employees whose income is paid monthly or the cumulative amount of income received in 1 (one) calendar month exceeds IDR 4, 500, 000.00 (four million five hundred thousand rupiah). C) 75% of total gross income, which applies to non-employees as intended in Article 3 letter c who receive non-continuous compensation. D) Non-Permanent Employees whose income is paid monthly or the cumulative amount of income received in 1 (one) calendar month exceeds IDR 7, 500, 000.00. Show Answer Correct Answer: B) Non-Permanent Employees whose income is paid monthly or the cumulative amount of income received in 1 (one) calendar month exceeds IDR 4, 500, 000.00 (four million five hundred thousand rupiah). 28. There are 2 bases for the imposition of Potput Income Tax, namely A) Final & Not Final. B) Gross based and net estimated value. C) When paid & When Due. D) Tax Subjects & Objects of Potput Income Tax. Show Answer Correct Answer: B) Gross based and net estimated value. 29. Traditional IRAs may allow you to achieve which of the following?I. Tax-free distributionsII. Tax-deferred growthIII. Reduced current taxable income A) I and II. B) I, II, and III. C) I only. D) II and III only. Show Answer Correct Answer: A) I and II. 30. Land and buildings transaction tax does not apply to first time buyers. A) False. B) True. Show Answer Correct Answer: A) False. ← PreviousNext →Related QuizzesTaxation QuizzesFinance QuizzesTax Planning Quiz 1Tax Planning Quiz 2Tax Planning Quiz 3Tax Planning Quiz 5Tax Planning Quiz 6Tax Planning Quiz 7 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books