Taxation in Securities Markets Certification Free Demo Test 10 -

Taxation in Securities Markets Cert. Free Demo Test 10

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Taxation in Securities Markets Certification Free Demo Test 10

1 / 10

1. If all transactions are made through a bank account, the presumptive income shall be _______ of the turnover.

a. 7%

b. 8%

c. 6%

d. 5%

2 / 10

2. ________ shall be levied on inter-state supply of goods or services.

a. CGST

b. SGST

c. IGST

d. Both 1 and 2

3 / 10

3. _______ arises when the agent is empowered to enter into the contracts and carry out jobs exclusively for its principal.

a. Construction PE

b. Service PE

c. Agency PE

d. Either 2 or 3

4 / 10

4. The ________ of the company shall be deemed to be an assesses-in-default for the amount of tax payable on buyback of shares.

a. Treasury

b. Custodian

c. Nominee director

d. Principal officer

5 / 10

5. The lender is required to deposit _______ of the lending price as a margin in the case of SLB.

a. 10%

b. 15%

c. 20%

d. 25%

6 / 10

6. An FPI being an investment division of an offshore banking unit is subject to the provisions of alternate minimum tax.

a. True

b. False

7 / 10

7. In the case of cumulative preference shares, the dividend is only payable out of the net profits of each year.

a. True

b. False

8 / 10

8. The intra-day trading of shares is considered a speculative transaction.

a. True

b. False

9 / 10

9. The multilateral convention shall implement the measures recommended by the _______ to prevent base erosion and profit shifting.

a. World Bank

b. OECD

c. European Union

d. BRICS union

10 / 10

10. The short-term capital gains on index ETFs would be taxable at the rate of _______ under Section 111A.

a. 20%

b. 15%

c. 12%

d. 18%

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Taxation in Securities Markets Cert. Free Demo Test 10

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