Eligibility and Functionality in Tax Software
What this deck covers
- Focus
- Taxation
- Practice shape
- Standard practice
- Question mix
- 14 multiple choice · 6 written
- Coverage
- 14 study sections
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Which of the following is a Popular Tax Software used for Income tax Filing?
- A)Data input
- B)Data analysis
- C)Data presentation
- D)Data deletion
- A)To calculate the present value of an investment
- B)To compute the periodic payment needed to repay a loan
- C)To calculate interest on loans
- D)To determine the future value of an investment
- A)To manage user permissions
- B)To define new data columns in a database
- C)To create financial statements
- D)To generate audit reports
- A)Income from salary
- B)Income from one house property
- C)Income exceeding 500,000
- D)Agricultural income exceeding 5,000
- A)Annual Information Statement
- B)Assessees Information Statement
- C)Accounting Information Statement
- D)Annual Income Statement
- A)Goods and Services Tax Transaction Reference Number
- B)Goods and Services Tax Taxpayer Registration Number
- C)Goods and Services Tax Transaction Reporting Number
- D)Goods and Services Tax Refund Number
- A)Income from salary
- B)Income from business
- C)Income from one house property
- D)Income from other sources
- A)File if there are no transactions
- B)File only if there are tax liabilities
- C)File only when prompted by the software
- D)Avoid filing
- A)PAN card and proof of address
- B)Voter ID and birth certificate
- C)Passport and driving license
- D)Educational qualifications and employment history
- A)It must be below 5,000
- B)It is not included in ITR-1
- C)It is considered taxable
- D)Only profits from commercial farming matter
- A)Non-resident individuals
- B)Individuals with income from business and profession
- C)Individuals with income from salary, one house property, and other sources
- D)Individuals with commercial agricultural income
- A)The consignee
- B)The buyer
- C)The transporter
- D)The consignor (supplier)
- A)The consignee
- B)The transporter
- C)The consignor (supplier)
- D)The buyer
What action does Access take when importing data that includes an existing primary key?
What is required when filing a Nil Tax Return under GST?
What does a report in MS Access primarily used for?
What is the purpose of Input Tax Credit (ITC) in GSTR-3B?
What does the NOW function in Excel provide?
What is the purpose of the PMT function in Excel?
What is the main purpose of using password protection in an Excel workbook?
What does the "Batch Tracking" feature in Zoho Inventory allow you to do?
What is the purpose of the 'Field' function in CaseWare IDEA?
Which of the following is NOT a requirement for filing an ITR-1 return?
What statement does 'AIS' in tax software stand for?
What does 'GST TRN' stand for?
Which of the following is NOT a source of income acceptable for ITR-1 filing?
What can taxpayers use to file a Nil Tax Return under GST?
The GST registration requires submission of which documents?
When filing income tax, what must be included regarding agricultural income?
Which of the following individuals is eligible for ITR-1 filing?
Who is responsible for generating the e-Way Bill as per the provided sources?
Who is responsible for generating the e-Way Bill?