Home About Contact Us Disclaimer Privacy Policy Terms & Conditions Blog Submit MCQs
GK MCQs Pak Study Islamic Study Everyday Science
Current Affairs
Pakistan & World Affairs 2025 Pakistan & World Affairs 2024 Pakistan & World Affairs 2023
PAST PAPERS
PPSC Past Papers FPSC Past Papers CSS Past Papers NTS Past Papers KPPSC Past Papers
MORE SUBJECTS
Urdu MCQs Geography MCQs English MCQs Pedagogy MCQs Computer MCQs
BLOG
Study Tips
Search Login

MAIN MENU

SUBJECTS MCQs

PUBLIC SERVICE COMMISSIONS

PAST PAPERS

Global Search Engine

Your Favorite Questions

Home > Accounting > Question

What is Short Tax Paid:

0
A) Tax paid less than the actual tax liability
B) Tax paid more than liability
C) Tax refunded by government
D) Excess tax paid to government

Correct Answer: A) Tax paid less than the actual tax liability

• In official tax accounting, Short Tax Paid explicitly means Tax paid less than the actual tax liability. • If a taxpayer accidentally pays more than their assessed liability, they are legally entitled to a Tax Refund. • The intentional, totally illegal hiding of income to avoid paying taxes is called Tax Evasion. • Using completely legal structural loopholes to aggressively minimize tax liabilities is called Tax Avoidance. • A severe penalty or heavy surcharge is usually levied by the government on Short paid taxes.

« Prev Next »

Advertisement

[ Ad Banner Space ]

Discussion (0)

Discussion mein hissa lene ke liye login karna zaroori hai.

Login / Register

Koi comment nahi. Sab se pehle aap apna comment karein!

Related Questions

Sub Categories

Leave a Reply / Ask a Question