The basic corporate tax rate in India is 30%.

Dividends are not a deductible expense for the purpose of computing corporate tax.

The maximum rate of depreciation that can be claimed on plant and machinery is 25%.

Income from lottery is not an exempt income for the purpose of corporate tax.

The due date for filing corporate tax returns is 31st October.

Cancellation of PAN is not a penalty for late filing of corporate tax returns.

The rate of interest payable on corporate tax arrears is 1%.

Summary assessment is not a method of computing corporate tax liability.

The time limit for filing an appeal against a corporate tax assessment order is 60 days.

Change in law is not a ground for filing an appeal against a corporate tax assessment order.

The Supreme Court is the highest appellate authority for corporate tax matters.

Limited scrutiny audit is not a type of corporate tax audit.

The time limit for completing a corporate tax audit is 12 months.

Cancellation of GST registration is not a consequence of non-compliance with corporate tax laws.

The objective of corporate tax audits is to verify the accuracy of the corporate tax return, to detect tax evasion, and to ensure compliance with corporate tax laws.