A. stock in trade
B. goodwill
C. agricultural land in mumbai
D. jewellary
✅ The correct answer is option A.
A partnership firm sold a residential house. The firm will get exemption under section ……………….. on capital gains.
A. sec. 54d
B. s
C. 54e c. sec. 54c
D. sec. 54ec
✅ The correct answer is option D.
Income of a minor child is included in the total income of ………………………
A. father
B. mother
C. parent whose income is greater
D. transferor of asset
✅ The correct answer is option C.
The amount of deduction under section 80DD regarding disability is …………………
A. rs: 30,000
B. rs: 50,000
C. rs: 75,000
D. actual expense.
✅ The correct answer is option B.
Which of the following is eligible for 100% deduction ?
A. national children fund
B. rajiv gandhi foundation
C. national sports fund
D. nehru memorial fund
✅ The correct answer is option C.
Section C applies on ……………….
A. individual and huf
B. co-operative society
C. firm
D. company
✅ The correct answer is option A.
Donation on PM’s National Relief Fund is deductible 100% out of the gross total income of the assessee, under section ……………………………..
A. 80c
B. 80cc
C. 80g
D. 80gg
✅ The correct answer is option C.
For the P.Y , 2012-13, the maximum permissible deduction under section 80C is …………..
A. rs: 80,000
B. rs: 1,00,000
C. rs: 2,00,000
D. 1,12,000
✅ The correct answer is option B.
The rate of surcharge on tax payable is ………………….% when taxable income is Rs: 5,57, 500.
A. 3%
B. 5%
C. 10%
D. nil
✅ The correct answer is option D.
The basic exemption up to which income is not taxable for an individual resident is …………..
A. rs: 1,00,000
B. rs: 2,00,000
C. rs: 5,00,000
D. none of the above
✅ The correct answer is option A.