Advance tax instalment due on 15th September is

applicable to ______
a) Registered firm
b) Companies
c) All assesses
On or before 15th December a company has to pay
total advance tax instalment of not less than
a) 30% of tax liability
b) 60% of tax liability
c) 75% of tax liability
The first due date for payment of advance tax for
company is
a) 15th march
b) 15th june
c) 15th September
d) 15th December
Advance tax is payable in cases where tax payable for
an assessee is rs _____or more
a) 10000
b) 15000
c) 25000
d) 50000

When axis bank ltd pays interest to its customer

mr.gajanan, it will have to deduct tax at source if total
interest paid / credited to him during the year
exceeds________
a) 5000
b) 10000
c) 20000
When an E-TDS return has 78 deducted records
charges for furnishing E-TDS return are_____
a) 30
b) 182
c) 606
The time limit for purchase of new residential house in
order to claim deduction u/s 54 is _______
a) 1 year before or 2 year after the sale of original
house property
b) 2years after the sale of original house property
c) 3years after the sale of original house property
The rate of deduction of tax at source on payment to a
resident individual contractor u/s 194c is _____
a) 10%
b) 2%

c) 1%
While applying TDS on rent service tax is to be ____
a) Excluded
b) Ignored
c) Included
d) None of the above
The monetary limit for deducting TDS on professional
fees upto 30th june ,2011is ________
a) 15000
b) 20000
c) 40000
d) 25000
The TDS rate to be applied on commission is __%
a) 1%
b) 2%
c) 10%
d) None of the above
The monetary limit fro deducting TDS if interest
payment made by a banking company is ____
a) 22500
b) 17500
c) 10000

d) 25000
The monetary limit fro deducting TDS u/s 194c for a
single contract after 1/7/20011______
a) 30000
b) 60000
c) 50000
d) 40000
Long term capital losses of current year can be set-off
against_______
a) Only short term capital gains of current year
b) Only long term capital gains of current year
c) Both short term and long term capital gains of
current year
Speculative loss can be set off only against____
a) Salary against
b) Capital gains
c) Business income
d) None of the above
Long term capital loss can not be set off against _____
a) Short capital gains
b) Business gain
c) Speculative income

d) all of the above

Unabsorbed loss from house property can be carried
forward to next _____ assessment year
a) 6years
b) 12 yers
c) 8 years
d) 4 years
Unabsorbed speculation loss can be carried forward to
next ___________ assessment year
a) 6years
b) 12 years
c) 8years
d) 4 years
Loss under the head capital gains ___be set off against
income under any other head of income in the same
assessment year
a) Can
b) Cannot
c) A&b both
d) Either A or b
Loss from short capital asset can be set off against
______&/or _____in the same assessment year

a) Salary income / income from house property

b) Salary income /business income
c) Long term capital gain/short term capital gain
d) None of the above