If STT is paid, then STCG tax on the transfer of capital asset is …………………………
A. 10%
B. 15%
C. 20%
D. 25%
✅ The correct answer is option B.
The maximum tax exemption to a senior citizen for the assessment year is ………………….
A. rs: 3,00,000
B. rs: 2,00,000
C. rs: 1,00,000
D. rs: 2,50,000
✅ The correct answer is option D.
The income tax payable by an individual is Rs:8,562.55. The rounded off tax payable will be …………………….
A. rs: 8,562
B. rs: 8,563
C. rs: 8,560
D. rs: 8,570
✅ The correct answer is option C.
The Total income of an individual is Rs: 3,46,994. The rounded off total income will be……………………
A. rs: 3,46,000
B. rs: 3,47,000
C. rs: 3,46,990
D. rs: 3,50,000
✅ The correct answer is option C.
Rate of depreciation on residential building is……………..
A. 5%.
B. 10%
C. 15%
D. 20%.
✅ The correct answer is option A.
If a depreciable asset is acquired and used for less than 180 days in a financial year, depreciation allowed on it is…………..
A. normal rate.
B. 50% of normal rate.
C. nil.
D. none of these.
✅ The correct answer is option B.
Repairs incurred before installation of an assets is………………
A. capital expenditure.
B. revenue expenditure.
C. non business expenditure.
D. none of these.
✅ The correct answer is option A.
Gifts from clients are……………….
A. professional income.
B. income from other sources.
C. non taxable item.
D. none of these.
✅ The correct answer is option A.
Under section 44AB the audit of accounts is compulsory if total sales exceed ……………………..
A. rs: 40 lakhs
B. rs: 50 lakhs
C. rs: one crore
D. rs: five crores
✅ The correct answer is option C.
Under valuation of opening stock is………………..
A. deducted from net profit.
B. added to net profit.
C. credited to p & l a/c
D. none of these.
✅ The correct answer is option A.