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Direct Taxes

Which of the ...

Question

Which of the following is a tax imposed on the profits of companies?

A

Income tax

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B

Corporate tax

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C

Professional tax

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D

Property tax

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Solution

The correct option is B Corporate tax

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Similar questions

Q. Q. In which of the following instances the imposed tax is said to be a “Progressive tax”?Select the correct answer using the code given below:

1 only
1 and 3 only
2 and 3 only
1 and 2 only

Q. Personal income tax and corporate tax are two types of that are imposed on the income of individuals or of companies.

Q. Which of the following is a tax imposed on property transactions?

Q. Minimum Alternate Tax (MAT) is imposed by the Indian Government in addition to which one of the following tax?

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.

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