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Direct Taxes

Companies pay...

Question

Companies pay corporate tax on the total sales of the year.

A

False

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B

True

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Solution

The correct option is A False

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Similar questions

Companies pay Corporate Tax on their:

Q. The taxes on the profits of companies and corporates having businesses in India are called as corporate tax. Even foreign companies are charged tax on the income they earn in India.

The corporate tax rates for these companies are as follows:

Turnover	Indian companies	Foreign companies
Less than ₹50 crore	25%	40%
More than ₹50 crore	30%	40%

Identify the taxation system followed for the corporate tax.

Q. Select the correct one/ones about 'net income' of a corporate body - by using code given below:
1. It is the balance of a company's total income and its total expenditure.
2. The profit of a company after paying corporate tax.

12 %

sales tax on a Rs.

550

item. How much is the sales tax and how much do I pay total?

Q. While purchasing one item costing

R s .400

, I had pay the sales tax at

7 %

and on another costing

R s .6400

, the sales tax was

9 %

. What percent of the sales tax I had to pay, taking the two items together on an average?

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Standard IX Economics

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