Taxation

~ hllp:llmarine.scdl. netltisassessmentengine/_studentlCybertest.aspx?aicc_sid=55651: 1 HO:aicc_url= .
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Financial Accountant

L_ c_h_a_rt_e_re_d_A_c_co_u_n_ta_n_t ~1 1L_ c_o_st_A_c_co_u_n_ta_n_t ~

x

@!}Done

I_ Internet

The loss incurred call be set oft to reduce the Gross T otalfncome

@ TRUE a FALSE

x

@1Done

I_ Internet

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Deductions allowed under the Act may exceed the Gross T otalfncomo

@ TRUE a FALSE

x

@!}Done

I_ Internet

A firm is not recognised as a legal entity except tor the purpose 001 the Income Tax Act

@ TRUE a FALSE

x

@1Done

I_ Internet


Basic exemption limit apl)lies to firm 01" companies

@ TRUE a FALSE

x

@!}Done

I_ Internet

Previous Year

L_ c_u_rr_e_nt_y_e_a_r ~1 1L_ F_O_II_OW_i_n~g_y_ea_r ~

x

@1Done

I_ Internet


Multiple Choice Single ReSI)OnSe

Finns are required to paytaK at the flat rate of

@ 20%

o 30%

o 40%

o 50%

x

@!}Done

I_ Internet

Multiple Choice Multiple ReSI)OnSe

The term Business includes

~ Trade
~ Commerce
0 Industry
0 Salary Income x

@1Done

I_ Internet


Mmeh the following

Unexplained Money

Investment not fully disclosed

Unexplained Expenditure

Any amount borrowed

L- s_e_c_ti_on __ 69 __ D ~1 LI se_c_ti_o_n_6_9_B ~1 LI s_e_c_ti_o_n_6_9_A ~

L- s_e_c_tlo_n_6_9 ...J1 I Section 69 C I LI s_e_ct_IO_"_6_8 -'

x

@!}Done

I_ Internet

Mmeh the following

Unexplained Money


I I Section 68

L_ ~

Section 69 D

Unexplained Expenditure Any amount borrowed

L_ s_e_c_tl_on __ 69 __ B ~1 I Section 69 A

L- s_e_c_tio_n_6_9 ...J1 LI s_e_c_ti_on __ 69 __ C --'

x

@1Done

I_ Internet



The maximum numbers of partners has been specified hy which Act

@ The Partnership Act 1932

o The Company Act 1 956

o The Contract Act 1872

o MRTP Act 1 969

x

@!}Done

I_ Internet

Tax Evasion

L_ T_a_x_A_v_oi_d_an_c_e ~1 1L_ T_ax_c_o_m_p~u_ls_i_on ~

x

@1Done

I_ Internet



The Tax Audit Revolt is to be kept in

iii Form no 3CA
iii Form no 3CB
0 Form no 3eD
0 Form no 3CC x

@!}Done

I_ Internet

1935

1945

1955

x

@1Done

I_ Internet


L_ 8_e_c_tlo_n_8_O_F ~1 1L_ 8_e_ct_io_n_8_O_G ~

x

@!}Done

I_ Internet


The Books of Accounts are re(llIired to be audited under which section

@ Section 44 M
0 Section 44 AS
0 Section 45 M
0 Section 45 AS x

@1Done

I_ Internet



The securjty tor the purpose of exemption consists of

iii Shares

[!] Units of mutual fund

o Government Securities

o Private Securities

x

@!}Done

I_ Internet


Partnership is classified only in these categories

iii Resident
iii Non-resident
0 ROR resident
0 RNOR x

@1Done

I_ Internet


50%

75%

100%

x

@!}Done

I_ Internet


AOP or 801 is formed to

@ Provide social services a Earn income

a To create utility

o To run institution

x

@1Done

I_ Internet



Which of the following items are treated as deemed income?

[i] Une::-::plained E}(penditure [!] Explained Expenditure

o Unexplained Investment

o Unexplained money, jewellery

x

@!}Done

I_ Internet

1947

1957

1967

x

@1Done

I_ Internet


Added

Divided

x

@!}Done

I_ Internet


UIS 40 A (2) 01 the Act Specified Person includes

[!] An Individual I!l A Company o Afirm

D Body of Individuals

x

@1Done

I_ Internet


The- calculation of de-pre-ciation unde-r the Income Tax Act differs from calculation of depreciation under tinanciel purposes

@ TRUE a FALSE

x

@!}Done

I_ Internet


The transfer in relation to asset includes

~ Sale

~ Exchange

o Compulsory Acquisition D Destruction of asset

x

@1Done

I_ Internet


@ TRUE a FALSE

x

@!}Done

I_ Internet


If assessee owns more than one house the henefit of A.V. as Nil will be to

@ Only one property a Two properties a Three Properties o Four Properties

x

@1Done

I_ Internet



Sub letting of House Property will be taxed as

@ Income from Other Sources

o Income from Business & Profession a Income from House Property

a Income from Salaries

x

@!}Done

I_ Internet

The deduction in case of Rent Paid is allowed whether house is furnished or unfmnished

@ TRUE a FALSE

x

@1Done

I_ Internet



Income receive-d in India, whether accrued in India or old of India, will be taxed in which of the fQllowing?

iii Resident
iii ROR
0 RNOR
0 NR x

@!}Done

I_ Internet


The assessee may carryon the period of

@ Whole Year o Hall althe Year

a Three months of the Year o Any time during the Year

x

@1Done

I_ Internet

~ hllp:llmarine,scdl, netltisassessmentengine/_studentlCybertest.aspx?aicc_sid=55651: 1 HO:aicc_url= ' Microson Internet Explorer ~[Q]~

Rs 15,000

Rs,20,OOO

Rs, 25,000

x

@!}Done

I_ Internet


Gross T otal lncome ot Partnership Firm may consists of which ot the following

[!] Income from House Property

[!] Income from Business & Profession o Capital Gain

D Income from Salary

x

@1Done

I_ Internet


In amalgamation effective date is the date of High COUll Order and not the date of transter

@ TRUE a FALSE

x

@!}Done

I_ Internet

The due dtltes for Ih'lying the advance tax is the same for CQI"I)Orme & non-corporate assessees

@ TRUE a FALSE

x

@1Done

I_ Internet


x

@!}Done

I_ Internet

Mmeh the following

D efe ctive R etu rn s

Revised Returns

Belated Returns

Loss Returns

,--- s_e_ctl_on_13_9",,(2...:.1 __ __j1 LI S_ec_ti_on_13_9",,(4...:.1 __ __j1 LI S_ec_ti_on_1_3_9...:.(9...:.1 __ __j

'--- S_e_ct_lo_n_1_3_9_(3_1 ...J1 I Section 139 (51 I LI S_ec_ti_o_n_1_3_9_(1_1 -'

x

@1Done

I_ Internet


Mmeh the following

D efe ctive R etu rn s Revised Returns
Section 139 (2) I I Section t 39 (4)
Belated Returns Loss Returns
Section 139 (5) I I Section t 39 (9) Section 139 (3)

Section 139 (1)

x

@!}Done

I_ Internet


Income of the P.Y. is chargeable toO tax inthe

@ Same previous year

a Year immediately succeeding A.Y.

o Year immediately preceding A.Y.

o Actual Year

x

@1Done

I_ Internet



In case of insolvency 01 parmershlp loOSS is borne by the partners in which ratio?

@ In the profit sharing ratio

o In the ratio of capital

o Equally

a Depends on the partnership deed

x

@!}Done

I_ Internet


Electronic Items include

[!] Computers

o Digital Diary

o Printers

D House hold appliances

x

@1Done

I_ Internet


x

@!}Done

I_ Internet


ToO claim deduction the ship must be owned by which COIHI)al'Y

@ Foreign Company o Multi·State Company a Indian Company

o Multi-National Company

x

@1Done

I_ Internet



Cash Credit is treated as deemed income if which of the following conditions are satisfied?

[i] Debtor is identified [!] Creditor is identified

o The capacity of creditor is beyond doubt

o The transaction is genuine

x

@!}Done

I_ Internet

Expenses incurred before the setting up ot the business are not allowed as husjnese expenditure

@ TRUE a FALSE

x

@1Done

I_ Internet


x

@!}Done

I_ Internet


When annuity is receive-d hyfonne-r employer it is taxed as

@ Salary

a Profit in lieu of salary a Arrears ot salarv o Advance of salary

x

@1Done

I_ Internet



T (10 claim deduction in case of multiplex theatres, it should not he located at

iii Kolko!a
iii Chennai
iii Deihl
0 Pune x

@!}Done

I_ Internet


Which is the last & residuary head of income?

o Income from Salary

@ Income from House Property a Income from Business

o Income from Other Sources

x

@1Done

I_ Internet


Assessment: Assignment for Taxation Registration Number: 200707630

Name: Naveen Kumar 8

Attempt: 2

Duration 00:04:56

Result for this Assignment

Assignment Date

2210812010

I No of Correct Answers

12

No of Partially Correct Answers

12

24

Total Questions Attempted

48

30 Out Of 100.

Fail

x

MIIHilile Choice liIIuHillle Resll(>lIse

Cjrcumstancos when income can he s(tid to escape assessment are

Where return of inc orne is filed in tirne Where return of inc orne is notfiled

Where income is assessed at low rate

Excess loss or depreciation is cornputed

x

On the date 01 acquismon asset mayor lIlay not be 01 capital nature

TRUE FALSE

The loss 01 one business can be set on against the proms 01 another business

TRUE FALSE

x

Match the following

Short Term Capital Gain

Capital Assets

The cost of In fiat ion IndexYear

Base Year

L_ M_or_e_T_ax ~1 LI J_e_W_e_lle_~ ~1 1L_ 20_0_1_-0_2 ~

c_ 1_9_S_1_-S_2 _j1 I Index no. 100 I Ic_ S_to_c_k_i_n_T_ra_d_e _j

Page 28 Sec!

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8horiTerm Capital Gain

CapilalAssets

Search for

MoreTa\(

Jewellery'

ThE! cost of InTlOItion IndexYeOir 2001-01

aase vear

rnoexno tun

1981-82

Stockln Trade

I!

I r I I

28/28 At 1"

REC TRI< EXT OVR Erlglish(U.5 ~

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Ln 1 Col 2

Current Assets

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An <Issei wlliell is 1101 bougl" or sold <'IS part of everydayrumunq of nusmess is

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Capital Assets

CirculalingAssels

Intangible Assets

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Seciion2338

Seciion2328

Select the blank.

5%

10%

15%

25%

MIIHillle Choice MuHillle ReslJ(.nse

Pension received by an indMdllal is exempted if he receives

Paramvir Ghakra Mahavir Ghakra Vir Ghakra Shaurya Ghakra

x

snort Term Capital Assets mean the assets helll tor the perlotl of

MIIHipie Choice Sin!Jle Response

35 Months

More than 36 Months 37 Months

38 Months

The provisions regarding set off and carry forward is contained in which section?

MIIHillie Choice Sin!Jle ReSIl6nSe

x

Section 60-70 Section 70-80 Section 80-90 Section 90-100


Online



Seerch fcr

RS.50000

RS.100000

REC TRK EXT OVR Engli~h ru.s ~

32/32 At 5,1" Ln 2 Col 2

Select the blank.

30·8ep

31·Dec

28·Feb

MlIHillle Choice MuHillle ReslJ(.nse

Domestic comllany is one which satisfies which ot the lollowing conditions?

The share Register is regularly maintained

The General Meeting for declaring dividend held within India The dividend should be payable only within India

The dividend should be payable outside India

x

MIIHipie Choice Sill!Jle ReSI)QnSe

Allowance paid outside India lor rendering services omside India is

Not taxable Partly taxable Taxable Exempted

Select the hlallk.

Loss Irom owning & maintaining Race Horses can be set off & carried

6 Years

8 Years

10 Years

x

Imllli€-illlal1ll€-rshill arises from which base?

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True False

If H.P. is let om to friend om of love such concesslonal rent can not form A.V.

TRUE

FALSE

x

A return of income file(1 by ,111 assessee sllolll(1 be correct ami accompanied hy stotements

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True False

SalalY surrenderetl hythe employee to the Central Government will he included in income

TRUE

FALSE

x

Rent received includes rent 01 the perlotl lor which the property was vacant

TRUE FALSE

MuHillle Choice liIIuHillle Resl!(.nse

Assessee is liaille to Ilay

Tax Interest Penalty Donation

x

Select the blank.

Hindu Undivided Family

Company

Association of Person

MuHillle Choice MuHillle Resl!(.nse

Under Inc ome Tax I\et, person includes

Company HUF

Firm Family

x


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Seerch fcr

Match the following

Forelqn Company

Indian Company

D8m8rger

Amalgamation

'----- 8_8c_ti_on_19_(_AA_1 __ -----'1 LI 8_8_c_tio_n_1_(_81 ---'1 1'----- 8_8c_ti_on_2_(_2_4A_1 __ -----'

,----- 8_8c_ti_0_n_2_(2_3_A_1 __ __jl 1 8ection 2 (1 C1 1 1,----- 8_8_c_ti_on_2_(2_2_A_1 __ -----'

x

Page4l Secl

MuHillle Choice SillIJle ReSI)QIlSe

The assessee can}lin!J on buslness is re!luiredto IJ"tthe accounts audited if his turnover e)(ceeds

Rs.40,00,000 Rs.50,00,000 Rs.60,00,000

Rs.70,00,000

tj!JOfficeonline

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.. m' •• nl.""I, ...... ·~ _T"'iI<:~"' ~ __ :51I1'

Inciilenc€- of tax of the assessee depends upon

Residential status

Place of income

Time of accrual of income

Marital Status

Jilsk: 27148

41141 At 1"

LrI 1 Col 2

REC TRI< EXT OVR ErlgIi5h(U.5 ~

Municipalt<lx includes

MuHillle Choice MuHillle Resl!<.nse

Water Tax

State Education Cess Scavering Tax

Gift Tax

The Income Tax Act provides fOI" the tax concession in which of the following cases

MuHillle Choice MuHillle Resll(>nse

x

Amalgamation & Merger of company Conversion of Proprietary to company Demerger of company

Sale of a company

Select the blank,

Central Government

L- c_e_n_tr_a_I_B_o_a_rd_o_f_D_i_re_c_t_T_ox_e_s ~I LI F_i_n_an_c_e_A_c_t ~

MuHillle Choice Single ReSI16I1Se

If a furnished House Prollel"ty is lei om Allllual Value will be

Inclusive of a rent offurniture Exclusive ofa rent offurniture Reduced by the rent offurniture Increased by the rent offurniture

x

Multiple Choice Single Response

TII€ amount of gnltuityl)<lidtotlle employee on his rreetn is taxed as

income nom onier sources

Mm{illllllll reachable s"G[e: 2

---=-----------

Jask:32j'411

rjme.rert-senun.

x

Select the blank.

Search for


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Central Government

L_ B_o_a_rd __ of_D __ ire_c_t_o_rS ~1 LI c_e_n_tr_a_I_B_O_a_rd_O_f_D_i_r8_c_t_T_aX_8_S ~

x

The [lelueciation in!licates reductlon in the value of asset !lue to which otthe following factors?

MuHillle Choice MuHillle Resl!<.nse

Time factor

Use factor Obsolescence factor Break down factor

x

Unahsol"l!ed [lelneciation can set off against i"lny head of income

TRUE FALSE

Pension scheme is referred UIS

MuHillle Choice Sill!Jle Response

sncc sncc B ecce D sncc e

111 case of business huilding used tor business which of the following expellses are allowed as deduction?

MuHillle Choice MuHillle Resllonse

x

Rent, rates Repairs Municipal Taxes Income Tax

Security Exchange Board 01 India has been estahlished under the provislon 01 the

MIIKi!>le Choice Single ReSI)QnSe

Banking Regulations Act 1946 Indian Company Act 1 956 Reserve Bank of India Act 1934 Consumer Protections Act 1986

x

Rmes 01 income tax are !ledde!l every year

TRUE FALSE

The provislon 01 MAT is alllllicllble 10 1I111he companies whelhe." Indilln or Foreign

TRUE FALSE

MnHillle Choice Single ReSI16nSe

Income ollJoltticlIllJlIl1ies maintllined in audtted accounts records & documents

is chargeable to tax is exempted Irom tax

is kept in the GovernmentTreasury is dependent on facts of the case

x

Select the blank.

Central Government

L_ L_o_C_al_G_O_V_e_rn_m __ e_n_t ~1 LI M_u_n_iC_iP_a_I_C_o_rp_o_r_a_ti_on ~

MuHillle Choice MuHillle Resl!(.nse

The term Owner under the House PrQperty Act includes

Individual, H.U.F. Firm, A.O'p.

Company co-op society Only Individual

x

Select the blank.

2 months

3 months

4 months

MlIHillle Choice MuHillle Resl!(.nse

Specified Employee means a IJerSOn who is

Key employee Director of a company

Having substantial interest in the company

Whose salary allows a deduction of more than Rs.50,OOO

x

Under Income Tax IIct there is liilfel"ence hetween wages and salalll

TRUE FALSE

MuHillle Choice Single ReSI16nSe

The assessee who is eligible lor LlC premium deduction is

Company Association 01 Person Body of Individuals

Individual or Hindu Undivided Family

x

Select the blank.

Assessment: Assignment for Taxation

Registration Number: 200707630 Name: Naveen Kumar S

Attempt: 3

Duration 00:06:23

Result for this Assignment

Assignment Date

2210812010

Body of Individuals

Firm

Company

x

No of Correct Answers

13

No of Partially CorrectAnswers

13

No of Wrong Answers

22

Total Questions Attempted

48

39 Out Of 1 00.

Fail

---"",-::--~ __ ~~~'-I_-"""""

x

Multilile Choice Multilile ReslJOllse

The security for the purpose of exemptlou consists of

Shares

Units of mutual fund Government Securities Private Securities

MaximulII

L_ 8_e_ct_io_n_6_9_D ~1 LI 8_e_ct_io_n_6_9_B ~1 LI 8_e_ct_io_n_6_9_A ~

L- 8_8c_t_io_n_6_9 --'1 I 88 cti on 69 C I LI 8_ec_t_i o_n_6_8 --'

Match the following

Unexplained Money


Unexplained Expenditure

Any amount borrowed

MaximulII

Unahsol"bell Depreciation can set off against any head of income

TRUE FALSE

MaximulII

Select the IIlank.

MaximulII

x

6Years

aveare

Iii

x

56/56 At 1"

tn 1 Col Z

REC TRK EXT OVR Er.gli~h ru.s ~


For the purpose of income tax HZ includes

kandla FTZ Madras EPZ Cochin ETZ Bombay EPZ

Maximum


The IJOwers of the Income T<lx Officers <Ire mentloned in which section

Section 134 Section 136 Section 138 Section 140

Maximum

1981-82

Select the IIlank.

Cosl of Infiation Index is the lnflation

base year

1991-92

2001-02

MaximulII

DOlllestic COlllpany means an lndlan COIl1IJi1I1Y

TRUE FALSE

MaximulII

Multillie Choice Single Re"'llOn s e

Intere st on eIlWloyer· s contribution to PF i s taxed a s

Income from business Capital Gain

Income from salary Income from other sources

MaximulII

Rs.50000

Select the 1I1i1l1k.

In case a person with severe disability deduction allowed

'-- -'

L_ R_S_._75_0_00 ~1 LI R_s_.1_0_00_0_0 ~

MilXillllll11

Section 188 A

Section 187

Miltch the following

Change in the Constitution Joint & Several Liability

L- s_e_c_tio_n_18_4 ...J1 I Section 188

Dissolution of Firm Succession of Firm

L- s_e_c_tio_n_18_9 ...J1 LI S_e_c_ti_on_1_85 ...J

MaximulII

Multil)le Choice Multil)le Resllol1se

Assessment means computation of

Total income Taxable income Taxable liabilities Tax free income

Maximum

Multillie Choice Single ResllOnse

Rellluneration received by <In MP or MlA is taxed 1IS

Income from other sources Income from salary

Capital Gain

Income from business

M<lxinllll11

MaximulII

Select the IIlallk.

x

1 stlan 2003


The Cenl Govt has introduced a new pension scheme for those who are employed

~----------------"

~ 1_s_tJ_a_n_2_00_4 ~1 LI 1_s_tJ_a_n_2_00_5 ~

MilXillllll11

The loss incurred can he set off to reduce the Gross Total Inc ollie

TRUE FALSE

MaximulII

Multilile Choice Multilile Resllonse

The term relative includes

Spouse of Individual Brother of Individual Sister of Individual Son-in law-of Individual

Maximum


MilXillllll11

x


Accounts <Ire required to he <ludited <IS per the provisions of which section?

Section 44 AA Section 44 AB Section 44 BB Section 44 BA

MaximulII

Any distriilution of asset lIy HUF to its members at the time of total or l!al1ial HUF is transfer

TRUE FALSE

MaximulII

Multil)le Choice Single ResllOnse

The maxlmum numhers ot partners has been Sl)eeifie!! by which Act

The Partnership Act 1932 The Company Act 1956 The Contract Act 1872 MRTP Act 1969

MilXinllll11

Mliltilile Choice Mliltilile Resllol1se

Income tax is

Tax on income whether actual or deemed Tax on income in cash

Tax on income in kind

Only Tax on income in cash

Milxinlllm

Multilile Choice Multilile Resllonse

Cash Credii is treated <IS deel11ed income if which of the following col1!liiions <Ire siltisfied?

Debtor is identified Creditor is identified

The capacity of creditor is beyond doubt The transaction is genuine

M<lximulII

1965


The Sick Industries Company Act (Special Provision) was passed

'-- _J

1975

1985

MilXillllll11

Multilile Choice Multilile Resllol1se

U/S 40 II (2) of the Act Sllecified Person includes

An Individual A Company A firm

Body of Individuals

MaximulII


Returns of income are retluirell to be filellul1l1er which section

Section 138 Section 139 Section 140 Section 141 (1)

MaximulII

Multillie Choice Single Re"'llOn s e

The concession that i s iMlilahle to the a s se ss ee is called a s

Discount Rebate Advance Tax

Self Assessment Tax

MaximulII

MaximulII

Select the IIlallk.

Central Government

L_ L_o_C_a_IG __ OV_e_r_nm __ e_n_t ~1 LI M_u_n_iC_iP_a_I_C_o_r_po_r_a_ti_o_n ~

x

Relit received includes relit of the period for which the property was vacant

TRUE FALSE

MaximulII


In case of insolven<:y of partnership IQSS is horne by the partners in which ratio?

In the profit sharing ratio In the ratio of capital Equally

Depends on the partnership deed

MaximulII

Rs 15,000


UIS 40 A (3) payment made by the assessee is allowed as expenditure

~------------~

L_ R_S_._20_,0_0_0 ~1 LI R_s_._25_,0_0_0 ~

MilXillllll11

x

84/84 At 1"

REC TRK EXT OVR Er.gli~h ru.s ~

tn 1 Col Z


Tax Deduction Account NUlllher is issued under section

UIS 202 A UIS 203 A UIS 204 A UIS 205 A

MaximulII

Under Income Tax Act there is difference between wages ami SlIIillY

TRUE FALSE

MaximulII

Mliltilile Choice Mliltilile Resllonse

Gross Total lncome of Pill1nershil) Firllll11iIY consists of which ot the following

Income from House Property Income from Business & Profession Capital Gain

Income from Salary

MilXinllll11

DolllIestic colllilany is one which satisfies which ot the folliolwing conditiolns?

Multilile Choice liIIultil)le ResPolnse

[!] The share Register is regularly maintained

[!] The General Meeting for declaring dividend held within India

o The dividend should be payable only within India

o The dividend should be payable outside India

Maximulll

The assets heldlly assessee for more than 36 months are calle!ias

Multilile Choice Sil1gle ResllOl1se

o Short Term Capital Assets @ Long Term Capital Assets

o Medium Term Capital Assets

o Very Long Term Capital Assets

Maximulll

Assessee is liaille to IJay

Multilile Choice lIIIultilJle Response

~ Tax
~ Interest
0 Penalty
0 Donation Maximulll

The assessee carll/ing on business is re!luired to get the accounts audited if his turnover exceeds

Multilile Choice Single ResllOnse

0 Rs. 40,00,000
@ Rs. 50,00,000
0 Rs. 60,00,000
0 Rs. 70,00,000 Maximulll

Though helated returns are filed assessee call file revisetl return

True False

@ TRUE a FALSE

Maximulll

Income tax lluthorities are re'lnired to do which of following llctMties dnring 11 Slllvey?

Multilile Choice liIIultil)le Response

[!] Mark the books and accounts

[!] Make the inventory of any cash stock

o Record the statement of any person

o Seize the goods of the owner

Maximulll

Expenses incmred before the setting up of the business are not allowed as business expenditure

True False

@ TRUE a FALSE

Maximulll

Select the bli'mk.

Board of Directors

MaximullI

Security llnd Exchllnge B01lrd of India Act came into existence in


0 1991
0 1992
@ 1993
0 1994 Maximulll

An impartible estate is owned

L_ ~

Select the bli'mk.

MaximullI

The conslderatlon for transfer I11Ust lie received in the previous year

True False

@ TRUE a FALSE

Maxil11ulll


Income which does not form part of total income is called

o Reduced income

o Extra Income @ Exempt Income o More Income

Maximulll

Rs. 10,00,000

~ R_S_.3_0_,0_0_,0_00 ~1 ~I R_S_.4_0_,0_0_,0_00 ~

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