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Which among the following are the basic rules that enable any country to impose tax on income?
Athena Ltd. incorporated in Country Q (DTAA is as per OCED Model) will hire three professionals residing in India based on prescribed qualifications. It would be ideal for the team to comprise one lawyer, one accountant and one business professional up to December as part of their business expansion plan in India.​​ The agent Mr. Shyam can hold the first round of discussions and negotiations with any such interested party. Based on such discussions, the agent must convey the expectations of the interested party to Athena Ltd. While the agent can enter into any such preliminary negotiations with the advisors / investors, local partners, the desired terms of relationship would be subject to the consideration, confirmation and final approval of Athena Ltd. Appointment of Mr. Shyam is for the period June to December. The income earned by Athena Ltd. from sale of hair straighteners and hair curlers in India during the period from June to​​ December​​Â
Types of relief granting by Central Government for doubly taxed Income are
Which of the following statements reflects the incorrect position?​​Â
Methods for granting bilateral relief are
Which of the following would not be considered as a permanent home of Mr. Shivam in context of the relevant rule in the DTAA with Country Q for dual residency?​​Â
(i) House in Defence Colony, Delhi where​​ his family lives​​Â
(ii) Own house in Mumbai which has been let out​​Â
(iii) Rent-free accommodation provided by his employer in Country Q​​Â
The correct answer is -​​Â
Purpose of double Taxation Avoidance Agreement are
In order​​ to claim relief under the tax treaty in India , a non-resident -​​Â
Permanent Establishment includes
When a term used in a tax treaty is not defined in the tax treaty or in the Act, but the same is defined subsequently through a notification in the Official Gazette by the Central Government, then, in such​​ a case:​​Â
Which income of non resident will not be taxed in India unless such Non resident has a permanent establishment in India
Under the provisions Of the Income-tax Act, 1961, the term person would not include:​​Â
What are the conditions to claim unilateral relief
Non resident to whom DTAA applies entitle to claim relief only if provide following documents
Which of the following statement is correct
Which of the following statement is wrong
Existence of a __________ in a jurisdiction is a pre-requisite for the purpose of taxation of business profit of an enterprise in that jurisdiction major Tax Convention:​​Â
The provisions relating to unilateral relief are contained in section ______.
Samrat, a resident Indian, has earned an income of Rs. 4 lakh by way of lump sum consideration for copyright of a book, being a work of literary nature, from a publisher in Country E, with which India does not have a DTAA. The same has been taxed at a flat rate of 5% in Country E. In India, his gross total income is Rs 7 Lakhs. The Double Taxation relief available is
Any term used in a DTAA with a foreign country and not defined in the agreement or the Act but assigned a meaning in the notification issued by the Central Government in the Official Gazette, shall have the meaning assigned in such notification and shall be effective from the
Source rule of taxation provides that income is to be taxed
Residence rule provides that income is to be taxed in the country
Double taxation relief could be
Bilateral relief means a relief in which
Unilateral relief means method of providing relief from double taxation in which
In exemption method
In tax credit method
Central Govt may enter in to an agreement with the Government of any country outside India u/s 90 for granting relief in respect of
Where the assessee is eligible to claim the benefit of DTAA
Jerry Inc. is located in country X and it is liable to pay income tax on its interest income arising from India. Rate of tax on such interest income is 10% under DTAA and 20% under the Income Tax Act Jerry Inc. is liable to pay tax @
Where an assessee is eligible to claim DTAA benefit on a particular income and GAAR is applicable on such case then taxation of such income shall be decided on basis of provision of
A foreign company is deriving income from India. However there is no DTAA with the country in which foreign company is located. The rate of taxation of Indian Income derived by foreign company shall be decided by
Tax residency Certificate is required
In order to claim DTAA relief non resident is required to furnish
An Indian Company avails technical services from Y Inc. Such income is taxable u/s 9(1)(vii) of the IT Act @ 10%. However it is exempt from tax under Article 12 of India USA DTAA. Indian Company is required to withhold tax @
Section 90 A agreement referred to by any specified association in India with specified association in the specified territory outside India can be for
Any resident in India who has agricultural Income in Pakistan and has paid tax in Pakistan on such income shall be entitled to deduction of
Non-resident assessee who has share in the income of a registered firm assessed as resident in India in any previous year, would be entitled to deduction of sum calculated on such doubly taxed income so included at the
Where foreign tax exceeds amount of tax payable in accordance with DTAA, then,
The credit of foreign tax shall be determined by conversion of the currency of payment of foreign tax at _________ on last day of month immediately preceding month in which such tax is deducted or paid
Where the amount of foreign tax credit available against tax payable under provisions of MAT or AMT exceeds tax credit available under normal tax provisions-