Tax Audit
Tax Audit Knowledge Quiz
Test your knowledge of tax audits with our engaging quiz! Do you know the key deadlines, rules, and ratios related to tax auditing? This quiz is designed for professionals and anyone interested in understanding tax audit principles.
- 10 multiple choice questions
- Immediate feedback on your answers
- Learn more about tax auditing practices
What is the due date for tax audit report
30th September
31st October
31st July
What is the instance for MPBF Assessment
Fund based exposure excceds 5crs
Exposure with ICICI exceeds 5 crs
Total fund based exposure of borrower is >= 5crs
Creditors TO ratio is --------
Creditors/Sales
Creditors/Purchases
Sales/Creditors
What is the applicability norm for Tax audit for Profession?
Turnover/Gross receipts more than 1 cr
Turnover/Gross receipts more than 2 cr
Turnover/Gross receipts more than 50 lacs
What is the ideal current ratio for the entity
1.3
1
A tax audit under sec 44 AB can be reported by -----
Cost accountant
Chartered Accountant
Full time Practisioner CA
Tax practitioner
Tax audit report framed by auditor is need to be signed by respective customer.
Yes
NO
ATNW is .....................
Capital+Reserves+unsecure loan by partner/directors-Loans given to directors/partners/assosicate/subsidary/sister concerns
Capital+Reserves
Capital+Reserves+unsecure loan by partner/directors-Loans given to directors/partners/assosicate/subsidary/sister concerns-Intangiable Asset
Mr.A, opted for Presumptive taxation in FY 17-18. While in FY 18-19 his TO is more than 2 cr and required to make tax audit as per rules. In FY 19-20 his TO is less than 2 cr. Can he opt presumptive taxation in FY 19-20?
Yes
No
Form 3CB consists of wording " based on audited Profit & loss account ....".
True
False
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