This quiz works best with JavaScript enabled. Home > Finance > Taxation > Tax Planning > Tax Planning – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Tax Planning Quiz 5 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. John is self-employed and uses his car for work. For John to claim a deduction based on the miles he drives his car, what must he do?I. Use his car only for workII. Keep a written log showing the date, mileage, location, and purpose of each tripIII. Keep track of all gas, repair, maintenance, and other expenses A) I only. B) II only. C) III only. D) I and III only. Show Answer Correct Answer: B) II only. 2. Interest on Statutory Provident Fund is ..... exempt. A) 9.5%. B) Partly. C) Fully. D) 12%. Show Answer Correct Answer: C) Fully. 3. What is the purpose of tax rebates? A) To decrease tax payable. B) To double tax payable. C) To increase tax payable. D) To have no impact on tax payable. Show Answer Correct Answer: A) To decrease tax payable. 4. 7-When an undertaking is sold without considering the individual values of the assets or liabilities is called A) Slump sale. B) Demerger. C) Amalgamation. D) Internal Reconstruction. Show Answer Correct Answer: A) Slump sale. 5. Vario Beny is Vario the year of release? A) 2015. B) 2014. C) 2016. D) 2017. Show Answer Correct Answer: A) 2015. 6. The work of supervising Benny's seal objects, regulated in? A) SE-38/Pj.2013. B) SE-38/Pj.2014. C) SE-38/Pj.2016. D) SE-38/Pj.2015. Show Answer Correct Answer: A) SE-38/Pj.2013. 7. ....is a form of corporate restructuring in which the entity's business operations are segregated into one or more components A) Demerger. B) Slump Sale. C) Internal Reconstruction. D) Amalgamation. Show Answer Correct Answer: A) Demerger. 8. Unethical tax planning is also known as A) Tax planning. B) Tax management. C) Tax avoidance. D) Tax evasion. Show Answer Correct Answer: C) Tax avoidance. 9. ..... is total exempted because Constitution of India does not give any power to charge tax on agricultural income. A) Salary. B) Education allowance. C) Agricultural income. D) None of the above. Show Answer Correct Answer: C) Agricultural income. 10. Mr. Edo's child's name A) Ever existed. B) There isn't any. C) Almost there. D) There isn't any yet. Show Answer Correct Answer: B) There isn't any. 11. How much does the Miradi boutique shop rent a year? A) Tens of millions. B) Hundreds of millions. C) 1 billion. D) I don't know if I'm too lazy to buy a truck. Show Answer Correct Answer: C) 1 billion. 12. What is the amount of PTKP for female employees? A) For married female employees, the amount of PTKP for herself. B) For married female employees, the amount of PTKP for themselves plus dependents. C) For unmarried female employees, the amount of PTKP for herself. D) For married female employees, the amount of PTKP for herself and her husband who also works. Show Answer Correct Answer: A) For married female employees, the amount of PTKP for herself. 13. 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) 25% + Surcharge 10% + 4 % HEC. C) 20% + Surcharge 10% + 4 % HEC. D) 15% + Surcharge 10% + 4 % HEC. Show Answer Correct Answer: A) 12.5% + Surcharge 10% + 4 % HEC. 14. 4-If the tax liability of a company is less than 15 % 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) 18.5% of books profits plus Surcharge(if any) plus 4% HEC. C) 16% of books profits plus Surcharge)if any) plus 4% HEC. D) 16.5% of books profits plus Surcharge)if any) plus 4% HEC. Show Answer Correct Answer: A) 15% of books profits plus Surcharge) if any) plus 4% HEC. 15. With proper tax planning new business can get advantages of tax A) Exemptions. B) Deductions. C) The rope. D) All the above. Show Answer Correct Answer: D) All the above. 16. 6-Which among the following is not available to companies? A) 80 IB. B) 80 C. C) 80 G. D) None of these. Show Answer Correct Answer: B) 80 C. 17. Additional Dwelling supplement is charged at ..... % A) 5%. B) 6%. C) 4%. D) 3%. Show Answer Correct Answer: B) 6%. 18. In the Equalization of Body PPh SPT with VAT Time SPT, if the Turnover is greater than the VAT DPP, then the production of FP is done on..... A) A Tax Invoice is created when the sales money is received. B) A Tax Invoice is created when the sale is recognized. C) Tax Invoices are generated at the end of the following month. D) Tax Invoice is not created at all. Show Answer Correct Answer: C) Tax Invoices are generated at the end of the following month. 19. Jane bought an asset in March 2016 at a cost of £ 37, 000. Jane decided to transfer the asset to her husband, Colin in July 2021. The asset was valued at £ 52, 000 at that date.Colin then sold the asset for £ 93, 000 to a third party in September 2023. What is Colin's chargeable gain on the asset when he sold it in September 2023? A) £ 56, 000. B) £ nil. C) £ 93, 000. D) £ 41, 000. Show Answer Correct Answer: A) £ 56, 000. 20. At the end of the year, all objects of PPh Article 21 which are spread across cost accounts according to the general ledger are collected into one and compared with the calculation of PPh 21 for the December period. If there is a difference, what should be done if it is caused by income other than permanent employees? A) Carefully examine employee data. B) Examine the income groups for which tax has not been deducted. C) Examine the income groups for which tax has not been deducted. D) Check the employee's name. Show Answer Correct Answer: B) Examine the income groups for which tax has not been deducted. 21. An assessee shall be assessed as HUF if the following conditions are satisfied: A) Joint Family Property. B) Coparcener. C) Both a & b. D) None of the above. Show Answer Correct Answer: C) Both a & b. 22. Which is not a benefit with PPh 21 Gross Up / Income Tax Allowance for Employees? A) Total employee salaries received in full after deduction of PPh 21. B) Employees still have to bear PPh 21 on the salary they receive each month. C) Employers are allowed to charge PPh 21 benefits as a gross deduction. D) Employer's corporate income tax burden is lower after implementing PPh 21 allowance. Show Answer Correct Answer: B) Employees still have to bear PPh 21 on the salary they receive each month. 23. Excluded from the VAT Mechanism (General and Special) is? A) Submission of BKP/JKP to VAT Collectors for Government Agencies. B) Submission of BKP/JKP whose VAT/PPnBM does not receive facilities. C) Input Tax Credit (PK-PM). D) Submission of BKP/JKP to other VAT Collectors. Show Answer Correct Answer: B) Submission of BKP/JKP whose VAT/PPnBM does not receive facilities. 24. Providing income for services provided by individuals is one of the equalizations of A) Income Tax Article 23. B) Income Tax Article 21. C) Income Tax Article 4(2). D) PPN. Show Answer Correct Answer: B) Income Tax Article 21. 25. The rates and basis for taxation on interest tax objects (PPh article 23) are A) 15 % and Gross Income. B) 15% and Net Income. C) 2% and Gross Income does not include VAT. D) 7.5% and Gross Income. Show Answer Correct Answer: A) 15 % and Gross Income. 26. An unregistered Online Shop is an example of tax evasion A) True. B) False. Show Answer Correct Answer: A) True. 27. ..... is the first step towards tax planning. A) Tax evasion. B) Tax avoidance. C) Both of the above. D) None of the above. Show Answer Correct Answer: D) None of the above. 28. What are the two levels of tax jurisdiction in Malaysia? A) Federal and local. B) State and municipal. C) Federal and state. D) Regional and national. Show Answer Correct Answer: C) Federal and state. 29. The name of the hero on the 10 thousand print money A) Auto iskandar in nata. B) French kasiepo. C) Idham Chalid. D) Djuanda Kartawidjaja. Show Answer Correct Answer: B) French kasiepo. 30. In the form of organisation exemption of dividend is allowed u/s A) 10(33). B) 10(36). C) 10(35). D) 10(34). Show Answer Correct Answer: D) 10(34). ← PreviousNext →Related QuizzesTaxation QuizzesFinance QuizzesTax Planning Quiz 1Tax Planning Quiz 2Tax Planning Quiz 3Tax Planning Quiz 4Tax Planning Quiz 6Tax Planning Quiz 7 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books