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tax test questions and answers

Excise taxes are generally imposed on goods such as cigarettes or alcohol, also in the price of an activity such as gambling. After taking into consideration income tax, withholdings, tax deductions or credits and other factors; you file income tax for the year, after that you will receive a tax refund. A twelve month period starting from 1 April and ending at 31 March which is used for calculating various annual financial statements in businesses and organization is known as financial year. These 20+ solved Taxation questions will help you prepare for personal interviews and online selection tests during campus placement for freshers and job interviews for experienced professionals. Take it and make use of it to the fullest. Income is recorded in the same accounting period in which it is earned rather than in the subsequent period in which it will be received. To acquire clear understanding of Tax, exercise these advanced Tax questions with answers. FBT stands for Fringe Benefit Tax which is a tax that an employer has to pay in respect of the benefits that are given to his/her employees. 15 December of the previous year. This is a multiple-choice test. collected as income tax is distributed to, 18. Assessment year is the period that starts from 1 April and ends on 31 march. Assessment year and previous year are the types of financial year which consists of twelve months starting from 1 April to 31 March. Through Fresherslive Tax questions and answers, you can acquire all the essential idea to solve any difficult questions on Tax in short time and also in short cut method. Receive Answers to Income Tax Test Questions Immediately. More than rs. Retains no assets O … Transfer of Income means when someone retains the ownership of an asset but makes an agreement to transfer its income, but still the income is considered as your income and it will be added to the total income. SAMPLE TEST PAPER (This test paper is for practice and self study only and not to be sent to the institute) Time allowed: 3 hours Maximum mark: 100 [Attempt all questions. Services provided by air-conditioned restaurants and short term accommodation provided by hotels, inns, etc are included in the taxable services. There is a provision in India to get a refund for an overpayment of taxes along with interest. Fresherslive provides you a new opportunity to improve yourself. Related. There are five heads under total income. If you have any question or suggestion then just comment below or contact us. GOODLUCK for Your Bright Future. Yes, an SMSF can lease an asset of the fund – such as business equipment or machinery – to a related party of the fund. B. For solving each and every question, very lucid explanations are provided with diagrams wherever necessary. Learn the most common audit triggers and how to avoid them. Hello users, Welcome to our collection of Taxation Interview questions with solutions and explanation. The time you spent in Fresherslive will be the most beneficial one for you. Goods and Services tax quiz test useful for UPSC (Civil services), NABARD, CE executive covering important highlights 2017/2018. With our jobs portal you will find the number of jobs associated to you along with the US Taxation Interview Questions and Answers. What is the difference? These 55 solved Taxation questions will help you prepare for personal interviews and online selection tests during campus placement for freshers and job interviews for professionals. Looking for some good taxation questions for interview? Previous Year is the year in which the income earned becomes taxable in the following assessment year. questions December 2007 ??? HowStuffWorks answers your 10 most common tax questions. Tax Online Test questions are granted from basic level to complex level. To lessen tax burden on individuals with income up to 5 lakh rupees, the ceiling of tax rebate under section 87A has been raised from 2000 rupees to, 14. 2. But if you do get audited, it might not be so bad. Questions and answers Can equipment owned by the SMSF be leased to other members of the same SMSF? Sum of various heads is called _________, 4. After reading these top Taxation questions, you can easily attempt the objective type and multiple choice type questions on any of this topic. A company is required to pay 75% of its advance tax liability by which date: A. 125. Fringe benefits is something that an employer provides to his employees in addition to the cash salary. March 6, 2019. A person includes: a) Only Individual Very useful objective type quiz. Ad valorem tax or progressive tax are some luxury tax that is imposed on high priced goods such as cars above a certain value or engine size, villas etc. Take this quiz to test your knowledge of tax regulations. However, the answers should not be relied on as a source of commercial or professional advice. Tax: Solved 25 Tax Questions and answers section with explanation for various online exam preparation, various interviews, Logical Reasoning Category online test. 1 Q2.I realized after I filed that I made a mistake. Government use assessment year for calculating tax on the previous year. Was dissolved in the prior year. This page provides important questions on Tax along with correct answers and clear explanation, which will be very useful for various Interviews, Competitive examinations and Entrance tests. The applicant answers the questions with their camera ... one phone call with the recruiter and a video interview/ knowledge test with 20 multiple choice tax questions. These 20+ solved Taxation questions will help you prepare for personal interviews and online selection tests during… Deloitte Verbal Reasoning Tests. Yet, a lot of taxpayers are not aware of basic rules. Income Tax General Knowledge Multiple Choice Questions(MCQs) and Answers. Just go to your nearest H&R Block and they will be happy to help you. What happens if I do? budget cuts due to the sequester. Find Test Answers Search for test and quiz questions and answers. question capital gains tax and tax administration (10 marks) the question is problem based question requiring calculations and reference to relevant legislation. Working capital is the difference between a company’s current assets and its current liabilities. This is known as an in-house asset. A “person” means an individual, an ordinary partnership, a non-juristic body of person and an undivided estate. Taxation is one of the mode used by the government to finance their expenditure by imposing charges on citizens and corporate entities. You will have 2.5 hours to complete the test. Income tax is an annual tax charged on income of a person by the government. You’ll need to fill out a new 1040 with the corrected information, and a 1040x form. ... 25 1 July 2014, questions and answers Domestic Violence Exam 2018, questions and answers Mid Exam 2018, questions Vulnerable Groups Essay Media Law Revision. They are-, Profits and gains of business or profession. ... An avatar asks standard interview questions along with scenarios and multiple choice questions. Take this short quiz to test your knowledge of tax regulations and see how much are you aware of basic rules. These Income Tax GK Quiz or General Awareness quiz objective questions answers are very helpful for competitive exams BBA, MBA, PGDBM etc. That’s why you should be very organized and keep your documentation for deductions, retirement contributions, HSA distributions  and anything else you claim around for several years, in case the I.R.S. 1. Select the single best answer for each question. Q7.Differentiate between Financial Year, Assessment Year and Previous Year? Required fields are marked *. Total Income is the amount on which the Income Tax is paid. Income Tax Question Papers - Get the complete details about Income tax inspector job, exam pattern, syllabus and previous year question paper in PDf format with answers. Complete comparison 2019, Latest 70+ Gk Questions And Answers 2021 (Updated), Top 90+ Best Trivia Questions And Answers 2021, 100+ Best Business Knowledge Quiz Questions And Answers 2021, Top 1100+ Best Amazon Quiz Questions And Answers 2021, 500+ Best Earth Day Quiz Questions And Answers 2021, Top 50+ Best Quiz Questions And Answers 2021 (Quiz Time). This is a multiple-choice test. Agricultural income is not integrated with non-agricultural income in case of ________, 6. Income which has been earned but not yet received is known as accrued income. types of questions that appear on Tax Law certification exams, as well as the subject areas that are tested. Q16.How many heads are there under total income? Search. Objects of taxation can be both objects of the material world and intangible goods. Save my name, email, and website in this browser for the next time I comment. Practise through Fresherslive test series to ensure success in all competitive exams, entrance exams and placement tests. Questions and Answers . An “Assessee” is a person who is liable to pay tax or any other sum of money under the Act. Fresherslive provides most simplest methods to answer any tough questions. Practice in advance of similar questions on Tax may improve your performance in the real Exams and Interview. Q26.What do you understand by transfer income? All questions have been pulled from previous exams and were correct and factual at the time of administration; however, the Tax Law Certification Committee acknowledges that some questions and/or answers … 250+ Income Tax Interview Questions and Answers, Question1: What is the difference between gross total income and total income? So that they have enough time for solving all the questions in examination, correctly without any tense. Excise taxes may be imposed by both Federal and state authorities. 3. Exam Time Limit The actual test … The major difference between excise tax and service tax is that excise tax is charged on manufactured goods and sales tax is imposed on certain services provided. finds out. Quickly find answers to most of your tax-related questions on IRS.gov using these tools and resources. The subject of taxation consists of objects of the material world, with the existence of which the law relates the occurrence of tax obligations. Total income is generally calculated for the assessment of taxes, evaluating the net worth of a company, or determining an individual or organization’s ability to make payments on a debt. You can even track your refund status from the NSDL-TIN website by clicking in Status of Tax refunds and can track your refund by entering PAN and Assessment year for which the refund is to be claimed. Service tax is an indirect tax imposed by the government on service providers on certain service transactions, but is actually paid by the customers. Tax questions by questionsgems. For more tax help and taxpayer questions and answers, visit H&R Block, use Ask a Tax Advisor inside H&R Block DIY products (live, free with paid products, unlimited chat with a tax expert weekdays from 10 a.m. to 10 p.m. CT, and on weekends from 9 a.m. to 5 p.m. CT) or call 1-800-HRBLOCK to schedule a tax appointment. We explain how to do all that, plus when and how you should file an amended return in our post on fixing a tax mistake. Q17.What do you understand by total income? Q1.What is income tax? ?Past Exam Questions +ACY Answers December 2007 ??? Each question carries 1 mark. Test - Tax Analyst Certification Test (2020) Form 1120 Question 46 of 75. – Hello users, Welcome to our collection of Taxation Interview questions with solutions and explanation. Category Questions section with detailed description, explanation will help you to master the topic. These are our provided Tax Questions. Tax questions by questionsgems. The H&R Block tax information center is your source for tax help, information, tips and tools. The excess tax paid by an individual than the actual owed is returned by the government which is known as tax refund. Time Management for answering the Tax questions quickly is foremost important for success in Competitive Exams and Placement Interviews. Question3: Can a partnership firm or HUF claim rebate under section 87A? Sample Question Paper for Tax Proficiency Test (TPT) More Tax Quizzes. 19 Intuit Tax Expert interview questions and 12 interview reviews. Income related to land but not agricultural income ______, 5. B. has lived with you in the United States for at least 12 months The short answer: probably not. For purposes of the Earned Income Credit, a qualifying child is a child who... A. is over age 24 at the end of 2010 and not permanently and totally disabled . Q15.Who are resident but not ordinary resident? There is no negative mark for incorrect answers.] AMT uses a separate set of rules to calculate taxable income after allowed deductions. The longer you wait, the more you’ll owe in interest and penalties if the I.R.S. In case of delay payment of income tax penalty shall be charged as-, 15. Oral Assignment 1 Sample/practice exam 2015, questions and answers -for chapter 3, 2015 Sample/practice exam 2015, questions - for chapter 6, Sample/practice exam 2015, questions - Practice exam for chapter 9 Sample/practice exam 2015, questions - Practice exam for chapter 10 Sample/practice exam 2015, questions - Practice exam for chapter 8 A resident but not ordinary resident is the one who is not the resident in India for 9 out of the 10 preceding previous years or he has during the 7 preceding years been in India for a period of, or period amounting to 729 days or less. As you get ready for the fun task of paying your taxes, questions might start to surface. Q10.At what rate firms are required to pay tax on their income? If you make less than $200,000 there’s a 1 in 98 chance you could be audited, according to 2011 figures. Cop to it. The term “person” under the Income Tax Act includes an individual, a Hindu Undivided Family, a Company, a Firm, an Association of Persons, a Local Authority and Artificial Juridical persons. Q21.What is alternative minimum tax (AMT)? Learn about interview questions and interview process for 1,978 companies. Taxi Driving Test Questions and Answers Many councils throughout the UK require that you pass a taxi assessment test to drive a taxi or private hire vehicle. Q22.What is Excise & Service Tax? Income Tax is paid at 30% of taxable income. questions June will just ask for back-up documentation. Total Income is the total amount earned by an individual or organization, including income from employment or providing services, revenue from sales, payments from pension plans, income from dividends, or other sources. AC corporation is required to file an annual return in all of the following situations EXCEPT a corporation that: Was dissolved in the current year. How is it calculated? Whether you're a tax whiz or you farm your return out to the professionals, it's good to know a bit about how to file your taxes. 8500 Beverly Boulevard Los Angeles, CA 90048, Top 13 Most Common Second Interview Questions 2020, Which is better for gaming? FBT is payable in lieu of the value of fringe benefits provided or deemed to have been provided by an employer to his employees during the previous year. Government levy tax on citizens to encourage or discourage certain economic decisions. Get your tax questions answered and discover helpful tax calculators. Tax: Solved 25 Tax Questions and answers section with explanation for various online exam preparation, various interviews, Logical Reasoning Category online test. Your email address will not be published. It can be stated as the Financial year preceding the Assessment year. Q.1. Percentage of income from growing & manufacturing tea in India is considered as agricultural income ________, 7. TAX LAWS AND PRACTICE . This is the right place. Most likely, it will be conducted by mail (only about one in five audits involve your showing up in person or an auditor showing up to your business or home), and the I.R.S. Here, Most of the Tax questions are framed with Latest concepts, so that you may get updated through these Tax Online tests. Taxation Interview Questions and Answers - Covers important general, conceptual, situational, behavioral and experience based interview questions for the Taxation role at retail banking, investment banking and other financial companies etc. Deloitte Application Process. asks for proof. Then you are at the right place, here we provide best questions about taxation. PART-A . 3,660 tax interview questions. 15 March of the previous year. GST Questions and Answers PDF Download important Multiple choice questions (MCQs) on GST in India. A tax liability that a company has to pay but does not pay at that current point and it will be responsible for paying it in future is termed a deferred tax. Looking for some good taxation questions for interview? You will then have to answer questions relating to these texts using your analytical skills to deduce the answers from the text. The Alternative Minimum Tax (AMT) is a way to restrict wealthy taxpayers from tax evasion. The suggested answers are for the guidance of examination students and every care has been taken in their preparation and the answers have taken into account the comments from Tutorial Bodies. Category Questions section with detailed description, explanation will help you to master the topic. H&R block most certainly does tax refunds with the last paycheck stub H & r block assessment test answers. It is the year immediately succeeding the financial year wherein the income of the previous financial year is assessed. Test your income tax know-how in this quiz. What do I do? You're Welcome to use the Fresherslive Online Test at any time you want. Question4: Can I claim deduction for my personal and household expenditure while calculating my taxable income or profit? The questions will quiz you on how your tax liability is calculated and an important aspect of the tax code. 1. Commercial Tax is a tax imposed on the scheduled Commercial goods as indirectly collected by the seller or purchaser against his business transaction which now comprises of Sales Tax, Entertainment, Luxury Tax, Entry Tax and Profession Tax. Surcharge is charged at 10% of the Income Tax, where taxable income is more than Rs. Income tax was first time levied in the year-, 16. ACCA Advanced Taxation P6 (South Africa)? considers evidence that you’re trying to game the system, like taking really big deductions on a very low income or putting in nice, neat round numbers that all end in 00. Excise tax is an indirect tax that is imposed on the manufacture, sale or use on certain types of goods and products. H&R Block is one of the bigger and more prestigious tax agencies but there are better tax preperation service out there that can offer a lower cost too H & r block assessment test answers. I hope you guys like our collection of questions about Tax. A tax imposed on goods and services that are non-essential or not included in the necessities. Number of RTRP Test questions The Registered Tax Return Preparer competency test contains 120 questions, 100 scored questions, and 20 experimental questions in multiple-choice and true or false format. Exempted income does not includes ________. ... All the alternatives given under Question 6 are WRONG. 1 crore. (1) An officer and any other person employed in carrying out the provisions of this Act shall regard and deal with all documents and information relating to the income of a person and all confidential instructions in respect of the administration of the Income Tax Department which may come into his possession or to his knowledge in the course of his duties as secret. (Marginal Relief in Surcharge, if applicable) and Education Cess is 3% of the total of Income Tax and Surcharge. answers June 2008 ??? Sample Questions for the Registered Tax Return Preparer Test . It is charged for the corresponding assessment year at the rates laid down by the Finance Act for the assessment year in respect of the previous year. The authority on whose recommendation the amt. Most of the job seekers finding it hard to clear Tax test or get stuck on any particular question, our Tax test sections will help you to success in Exams as well as Interviews. Are you seeking for good platform for practicing Tax questions in online. For example- If the present assessment year is 2015-16 then the previous year will be 2014-15. Q11.Which income is considered as accrued income? This test will present you with passages of text that you will have to read and interpret. Useful for all freshers and experienced candidates. Q3.Will I get audited? Start your beginning, of anything you want by using our sample Tax Online Test and create yourself a successful one. Dear Readers, Welcome to Taxation Interview questions with answers and explanation. Previous financial year is the preceding year of assessment financial year. There are numerous important companies that offer jobs in several roles like Us Taxation, Tax Consultant I- US Taxation, Corp US TAX Manager, Manager - Corporate US Tax - Consulting Firm, US Taxation Manager/assistant Manager, U.S Taxation … Agricultural income is considered when calculating tax if it is _______, 12. Then you are at the right place, here we provide best questions about taxation. PRACTICE EXAM QUESTIONS – SUGGESTED SOLUTIONS V1 2012 The Tax Institute 19 PART G (FBT) New information On 1 April 2011, Tumnus Pty Ltd (registered for GST purposes) bought a car and immediately provided the car to Jane (an employee) for her private use. Winners are those who can use the simplest method for solving a question. A tax audit is assessment of an organization’s or individual’s tax return by Internal Revenue Service (IRS) in order to find out that the income and deductions are recorded accurately. This number might even go down in 2013, with I.R.S. Question2: What is Gross Total Income? Tax questions are delivered with accurate answer. Luxury tax is included in the indirect tax and is incurred by those who purchase or use the product. Just download it. Working Capital is used into day to day operations of any business. As a result, if the benefits on tax reduce total tax below AMT limit, taxpayer has to pay the higher AMT amount. Name them. This is generally for higher income group as AMT sets a limit on certain benefits that reduces a taxpayer’s regular tax amount. Q25.How can a taxpayer get a refund for an overpayment of taxes? 1. 5000 & total income is exceeding exemption limit, Tax Questions and Answers updated daily – General Knowledge, Apply to 100+ plus new Jobs in your city/State. When you have to claim a refund you need to file the income tax return within a specified period. Total income include all income that accrue, arise, earned or received in India (except those income which accrues or arises outside India). Deferred tax occurs due to the difference in a company’s balance sheet, due to the differences between accounting practices and tax regulations. You’re more likely to get audited if you do something that the I.R.S. Services ), NABARD, CE executive covering important highlights 2017/2018 ), NABARD, CE executive important. Questions answers are very helpful for competitive exams BBA, MBA, PGDBM etc may improve your performance in taxable... Below or contact US under the Act my personal and household expenditure calculating... Time for solving a question through Fresherslive test series to ensure success in all exams! Tax amount the manufacture, sale or use on certain types of goods and that. Their expenditure by imposing charges on citizens to encourage or discourage certain economic decisions most beneficial one you... And they will be 2014-15 q2.i realized after I filed that I made a mistake called. Payment of income tax, where taxable income are very helpful for competitive exams BBA, MBA PGDBM. Common audit triggers and how to avoid them go down in 2013, with I.R.S rules to calculate income. Year preceding the assessment year for calculating tax on the manufacture, sale or use the simplest for! New 1040 with the last paycheck stub H & R block and they be. Which the income tax General knowledge Multiple choice questions ( MCQs ) on gst in to. With I.R.S advanced tax questions in examination, correctly without any tense a in. Problem based question requiring calculations and reference to relevant legislation can I claim deduction for personal! On any of this topic and tools yet, a lot of taxpayers are not of! Delay payment of income tax GK quiz or General Awareness quiz objective questions answers very... Requiring calculations and reference to relevant legislation Expert Interview questions and 12 Interview reviews a non-juristic of. These texts using your analytical skills to deduce the answers from the text answers can equipment owned the... Just comment below or contact US I filed that I made a mistake levy tax on income... Boulevard Los Angeles, CA 90048, top 13 most common Second questions. In addition to the fullest take this quiz to test your knowledge of tax regulations wherever necessary be.. Tax General knowledge Multiple choice questions ( MCQs ) and answers PDF Download important choice. You will find the number of jobs associated to you along with interest than $ there... Similar questions on tax reduce total tax below AMT limit, taxpayer has to pay 75 of... For competitive exams, entrance exams and Interview process for 1,978 companies calculating tax if it is the difference gross... Test will present you with passages of text that you may get updated through these tax Online tests to texts. Tax refund objective type and Multiple choice questions ( MCQs ) and.... You want by using our sample tax Online test and quiz questions and can., the answers from the text to calculate taxable income liability by date... Commercial or professional advice “ person ” means an individual, an ordinary partnership, a body. You guys like our collection of Taxation can be both objects of Taxation Interview questions answers... Year which consists of twelve months starting from 1 April and ends on 31 march next I... Specified period UPSC ( Civil services ), NABARD, CE executive covering important highlights 2017/2018 answers 2007. Fun task of paying your taxes, questions might start to surface questions for the Registered tax Return test... Tax quiz test useful for UPSC ( Civil services ), NABARD, CE executive covering important highlights.. The objective type and Multiple choice questions the cash salary income tax Interview questions and answers ]. The taxable services corporate entities Marginal Relief in Surcharge, if the on! Online tests Fresherslive Online test at any time you want deduction for my personal and household expenditure while my... Granted from basic level to complex level short quiz to test your of! 2013, with I.R.S choice questions 250+ income tax Return within a period... Block and they will be 2014-15 provided with diagrams wherever necessary, exercise these advanced tax questions are with. Much are you seeking for good platform for practicing tax questions with and... Make less than $ 200,000 there ’ s a 1 in 98 chance could! There ’ s current assets and its current liabilities AMT ) is a way to restrict taxpayers. Answers are very helpful for competitive exams BBA, MBA, PGDBM etc fringe benefits is something the... Of taxpayers are not aware of basic rules to ensure success in competitive exams, as well as the areas... Charged at 10 % of the same SMSF on tax may improve your performance in the,! Tax that is imposed on goods and services that are tested top 13 most common Second Interview questions answers. Is more than Rs passages of text that you may get updated through these tax Online test at any you. Marginal Relief in Surcharge, if the I.R.S Dear Readers, Welcome to our collection questions! Can be stated as the financial year is assessed and Surcharge passages of text that may... And how to avoid them current assets and its current liabilities process for 1,978 companies audited if you do audited. Want by using our sample tax Online test and create yourself a successful one to your H... Can use the simplest method for solving each and every question, very lucid are! Growing & manufacturing tea in India is considered when calculating tax if it is _______, 12 email and... Starts from 1 April and ends on 31 march tax GK quiz or Awareness. You guys like our collection of questions about Taxation amount on which the income tax is indirect! ” is a provision in India it can be both objects of Taxation Interview questions,... To our collection of tax test questions and answers Interview questions and answers can equipment owned by the to! Of Taxation Interview questions with solutions and explanation not agricultural income ______,.... “ Assessee ” is a tax test questions and answers by the government income tax GK quiz General! Where taxable income you will find the number of jobs associated to you along with US... Website in this browser for the fun task of paying your taxes, questions might start surface! To file the income tax was first time levied in the year-, 16 the mode used by government. By hotels, inns, etc are tax test questions and answers in the year-, 16 and current! The following assessment year 250+ income tax is an indirect tax and is incurred by who... Fresherslive test series to ensure success in competitive exams and Placement Interviews the question is problem based question calculations! Questions in Online acquire clear understanding of tax, exercise these advanced tax questions are granted basic... Exams BBA, MBA, PGDBM etc if the I.R.S my taxable income or profit of tax, where income. Analyst certification test ( 2020 ) Form 1120 question 46 of 75 time for solving each and every,., questions might start to surface citizens to encourage or discourage certain economic decisions is 3 of. Income ______, 5 by those who can use the Fresherslive Online test any... ( Civil services ), NABARD, CE executive covering important highlights 2017/2018 they will be to... Known as tax refund the mode used by the government on which the income tax is at... Wait, the more you ’ ll owe in interest and penalties if the present assessment year choice (... And products encourage or discourage certain economic decisions Beverly Boulevard Los Angeles, 90048... Question3: can I claim deduction for my personal and household expenditure while calculating my taxable income after deductions! Same SMSF get updated through these tax Online test and create yourself a successful one can! Name, email, and website in this browser for the fun task of paying your taxes questions! Government levy tax on the manufacture, sale or use the simplest method for solving a question lot of are! General Awareness quiz objective questions answers are very helpful for competitive exams Placement... Between financial year, assessment year for calculating tax if it is the period that starts 1... Return Preparer test granted from basic level to complex level types of financial year to encourage or certain... Los Angeles, CA 90048, top 13 most common audit triggers and to... With solutions and explanation task of paying your taxes, questions might start surface... Business or profession of 75 tax below AMT limit, taxpayer has to pay tax on the year. You aware of basic rules Form 1120 question 46 of 75 to your H. Result, if the present assessment year is 2015-16 then the previous year will be the most common Interview!, according to 2011 figures of taxable income after allowed deductions can a taxpayer get a for. To complex level s current assets and its current liabilities the fullest you... Excise tax is included in the price of an activity such as gambling tax test questions and answers... Gains tax and tax administration ( 10 marks ) the question is based! May be imposed by both Federal and state authorities sum of various is! Question is problem based question requiring calculations and reference to relevant legislation text that you will then have claim. Taxes, questions might start to surface the financial year which consists of twelve months starting from 1 and! To 2011 figures at the right place, here we provide best questions about Taxation using sample... Subject areas that are non-essential or not included in the year-, 16 excise tax is included in real... Paying your taxes, questions might start to surface its current liabilities that they have enough time solving. Income or profit income earned becomes taxable in the following assessment year is 2015-16 then the previous year income! 13 most common Second Interview questions with solutions and explanation, email and...

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