Taxation

Consider statements on exemption of income from allied agricultural activities such as poultry/wool rearing and treatment of rural agricultural land as a capital asset under the Income-tax Act.

Which one of the following situations best reflects "Indirect Transfers" often talked about in media recently with reference to India?

With reference to India’s decision to levy an equalization tax of 6% on online advertisement services offered by non-resident entities, which of the following statements is/are correct? 1. It is introduced as a part of the Income Tax Act. 2. Non-resident entities that offer advertisement services in India can claim a tax credit in their home country under the “Double Taxation Avoidance Agreements”. Select the correct answer using the code given below:

Consider the following items: 1. Cereal grains hulled 2. Chicken eggs cooked 3. Fish processed and canned 4. Newspapers containing advertising material Which of the above items is/are exempted under GST (Goods and Services Tax)?

The sales tax you pay while purchasing a toothpaste is a

Under which of the following circumstances may ‘capital gains ‘arise? 1\. when there is an increase in the sales of a product 2 .when there is a natural increase in the value of the property owned. 3\. when you purchase a painting and there is a growth in its value due to increase in its popularity. **Select the correct answer using the codes given below:**

Which one of the following is not a feature of “Value Added Tax”?