Consider the following: 1. Fringe Benefit Tax 2. Interest Tax 3. Securities Transaction Tax

Monjur Alahi

Consider the following:

1. Fringe Benefit Tax

2. Interest Tax

3. Securities Transaction Tax

Which of the above is/are Direct Tax/Taxes?

(a) 1 only (b) 1 and 3 only (c) 2 and 3 only (d) 1, 2 and 3


0 like 0 dislike
1 views
Share with your friends

1 Answers

Salim Ahmed Kawsar

Call

(d) Fringe Benefits Tax (FBT) was the tax applied to most, although not all, fringe benefits. A new tax was imposed on employers by India’s Finance Act 2005 and was introduced for the financial year commencing April 1, 2005. The Fringe Benefit Tax was abolished in the Finance Bill of 2009. Securities Transaction Tax (STT) is the tax payable on the value of taxable securities transaction. STT was introduced in India by the 2004 budget and is applicable with effect from 1st October 2004.

0 like 0 dislike
1 views
Talk Doctor Online in Bissoy App
Consider the following statements: 1. The Rajya Sabha alone has the power to declare that it would be in national interest for the Parliament

(a) Statement 1 is correct as per provisions under Article 249. Statement 2 is incorrect as resolutions approving the proclamation of Emergency are passed by both Houses of Parliament (not only...

1 Answers 1 views
Consider the following statements : 1. The President shall make rules for the more convenient transaction of the business

(a) Clause (3) of Article 77 “Conduct of Business of the Government of India” of the Constitution of India lays down as follows: “The President shall make rules for the...

1 Answers 1 views
Consider the following taxes: 1. Corporation tax 2. Customs duty 3. Wealth tax 4. Excise duty

(b) Indirect taxes are the charges that are levied on goods and services. Some of the significant indirect taxes include Value Added Tax, Central Sales Tax, Central Excise Duty, Customs...

1 Answers 1 views
Consider the following: 1. Market borrowing 2. Treasury bills 3. Special securities issued to R

(d) Treasury Bills are money market instruments to finance the short term financial requirements of the Government of India. These are discounted securities and are issued at a discount to...

1 Answers 1 views
A kind of tax called Taille was a/an: (A) Direct tax (B) Indirect tax (C) indiscriminate tax (D) Custom duty

The answer is (A) Direct tax 

1 Answers 1 views
There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?

Solution: Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.  R=100*60/100*6 =10% p.a  Now, P = Rs. 12000. T = 3 years and R = 10% p.a.  C.I=Rs.[12000*[1+10/100]3−1]        =Rs.3972

1 Answers 3 views
Which of following is a direct tax? (Choose the correct alternative) (a) corporation tax (b) entertainment tax

(a) corporation tax 

1 Answers 1 views
Classify the following taxes into direct and indirect tax. Give reasons for your answer. (i) corporation tax (ii) entertainment tax

(i) It is direct tax as its impact and incidence is on the same person. (ii) It is indirect tax as its impact and incidence are on different persons. (iii) It is...

1 Answers 1 views
Keeping in mind the emerging nature of the securities market in India, Securities and Exchange Board of India (SEBI) was entrusted

Developmental Functions of SEBI: (i) It trains intermediaries of the securities market. (ii) It conducts research and publishing information useful to all the market participants. (iii) It undertakes measures to...

1 Answers 1 views
'Unicon Securities Pvt. Ltd' was established to deal in securities. It was registered as a stock broker with National Stock Exchange (NSE)

(i) Delivery of shares in D'mat form directly to investors D'mat Account by the broker. (ii) The Securities and Exchange Board of India (SEBI) (iii) (a) Honesty (b) Commitment or...

1 Answers 1 views
X