Page 297 - DCOM508_CORPORATE_TAX_PLANNING

Corporate Tax Planning

Notes 12.7 Review Questions

1. Discuss the concept of Advance Tax payment with the help of example.

2. Who is liable to pay Advance Tax?
3. Elucidate the procedure of computing Advance Tax Payment.
4. How to deposit Advance Tax?
5. What are the consequences of non-payment of advance tax?

6. Define double taxation. Highlight the rules due to which double taxation arises.

7. Describe the types of double taxation relief.
8. Throw some light on the method of giving relief from double taxation.
9. Write short note on permanent establishment.
10. Discuss Double Taxation Relief provisions in India.

11. An individual resident in India, having income earned outside India in a country with
which no agreement under section 90 exists, asks you to explain whether the credit of the
tax paid on the income in that country will be allowed to him in India.
12. The Income-tax Act, 1961 provides for taxation of a certain income earned by X. The Double
Taxation Avoidance Agreement, which applies to X, excludes the income earned by X from
the purview of tax. Is X liable to pay tax on the income earned by him? Discuss.

Answers: Self Assessment

1. True 2. False
3. True 4. False
5. Income Tax Return 6. Three
7. Individuals 8. Assesses

9. True 10. False
11. False 12. True
13. Evasion or Avoidance 14. DTAAs
15. Higher 16. Non-resident

12.8 Further Readings

Books Ahuja, G. K. & Gupta, Ravi, Systematic Approach to Income Tax, Bharat Law
House.
Aggarwal, K., Direct Tax Planning and Management, Atlantic Publications.
Lakhotia, R.N., Income Tax Planning Handbook, Vision Books.

Singhania, V. K. & Singhania, Kapil, Direct Taxes law & Practice. Taxmann
Publications.
Srinivas E. A., Handbook of Corporate Tax Planning, Tata McGraw Hill.

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