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B Com Exam  >  B Com Tests  >  Income Tax Laws  >  Test: Tax Administration- 2 - B Com MCQ

Test: Tax Administration- 2 - B Com MCQ


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10 Questions MCQ Test Income Tax Laws - Test: Tax Administration- 2

Test: Tax Administration- 2 for B Com 2024 is part of Income Tax Laws preparation. The Test: Tax Administration- 2 questions and answers have been prepared according to the B Com exam syllabus.The Test: Tax Administration- 2 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Tax Administration- 2 below.
Solutions of Test: Tax Administration- 2 questions in English are available as part of our Income Tax Laws for B Com & Test: Tax Administration- 2 solutions in Hindi for Income Tax Laws course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Tax Administration- 2 | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study Income Tax Laws for B Com Exam | Download free PDF with solutions
Test: Tax Administration- 2 - Question 1
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If a person wilfully attempts to evade tax, penalty, or interest and the tax sought to be evaded exceeds Rs.1 lakh, what is the punishment?

Detailed Solution for Test: Tax Administration- 2 - Question 1
According to Sec.276C(1), if a person wilfully attempts to evade tax, penalty, or interest and the tax sought to be evaded exceeds Rs.1 lakh, the punishment is rigorous imprisonment for 6 months to 7 years and also a fine.
Test: Tax Administration- 2 - Question 2
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What is the punishment for wilfully failing to furnish a return of income in response to a notice under certain sections, where the tax sought to be evaded exceeds Rs.1 lakh?

Detailed Solution for Test: Tax Administration- 2 - Question 2
A person wilfully failing to furnish a return of income in response to a notice under certain sections, where the tax sought to be evaded exceeds Rs.1 lakh, is subject to punishment with rigorous imprisonment for 6 months to 7 years and also a fine. This is outlined in Sec.276CC.
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Test: Tax Administration- 2 - Question 3
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What is the punishment for fraudulently removing, concealing, transferring, or delivering property to defeat tax recovery?

Detailed Solution for Test: Tax Administration- 2 - Question 3
Fraudulently removing, concealing, transferring, or delivering property to defeat tax recovery can result in punishment with rigorous imprisonment up to 2 years and also with a fine. This is covered in Sec.276.
Test: Tax Administration- 2 - Question 4
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What is the punishment for contravening an order made under section 132(3) in the context of search and seizure?
Detailed Solution for Test: Tax Administration- 2 - Question 4
Contravention of an order made under section 132(3) related to search and seizure is punishable with rigorous imprisonment up to 2 years and also with a fine. This is established under Sec.275A.
Test: Tax Administration- 2 - Question 5
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What is the punishment for failing to provide the authorized officer with the facility to inspect books of account during a search proceeding under section 132?
Detailed Solution for Test: Tax Administration- 2 - Question 5
Failure to provide the authorized officer with the facility to inspect books of account during a search proceeding under section 132 can lead to punishment with rigorous imprisonment up to 2 years and also with a fine. This is stated in Sec.275B.
Test: Tax Administration- 2 - Question 6
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What is the punishment for making a false statement in verification or delivering false account where tax sought to be evaded exceeds Rs.1 lakh?
Detailed Solution for Test: Tax Administration- 2 - Question 6
Making a false statement in verification or delivering false account where tax sought to be evaded exceeds Rs.1 lakh can lead to punishment with rigorous imprisonment for 6 months to 7 years and also a fine, as stated in Sec.277.
Test: Tax Administration- 2 - Question 7
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What is the minimum term of rigorous imprisonment for falsification of books with the intent to enable tax evasion?
Detailed Solution for Test: Tax Administration- 2 - Question 7
Falsification of books with the intent to enable tax evasion carries a minimum term of rigorous imprisonment for 3 months, which may extend to 3 years, as per Sec.277A.
Test: Tax Administration- 2 - Question 8
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What is the punishment for abetting or inducing another person to make and deliver a false account relating to income chargeable to tax where tax sought to be evaded exceeds Rs.1 lakh?
Detailed Solution for Test: Tax Administration- 2 - Question 8
Abetting or inducing another person to make and deliver a false account relating to income chargeable to tax, where tax sought to be evaded exceeds Rs.1 lakh, results in punishment with rigorous imprisonment for 6 months to 7 years and also a fine, under Sec.278.
Test: Tax Administration- 2 - Question 9
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In the context of offences by companies, what is the liability of a person in charge of a company's conduct if an offence is committed by the company?
Detailed Solution for Test: Tax Administration- 2 - Question 9
If an offence under the Act is committed by a company, the person who was in charge of and responsible for the conduct of the company's business, along with the company, shall be deemed guilty of the offence. However, the person can avoid punishment by proving that the offence was committed without their knowledge or that they exercised all due diligence to prevent it. This is established in Sec.278B(1) and (2).
Test: Tax Administration- 2 - Question 10
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When can a person be considered not punishable for a failure under certain sections?
Detailed Solution for Test: Tax Administration- 2 - Question 10
A person can be considered not punishable for a failure under certain sections if they prove that there was a reasonable cause for such failure, as outlined in Sec.278AA. This provision allows for the consideration of genuine reasons for non-compliance.
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