Speculation Loss can be carried forward for……………..
A. 8 years
B. 10years
C. 5years
D. 4years
✅ The correct answer is option D.
Rate of T.D.S for unlisted securities, including cesses is……………..
A. 10.6%.
B. 15.6%.
C. 10%.
D. 30.6%.
✅ The correct answer is option C.
Interest on Bank Term Deposits is subject to tax deduction at source if the interest amount during the relevant previous year exceeds…………….
A. rs: 2,000.
B. rs: 5,000.
C. rs: 10,000.
D. rs: 30,000.
✅ The correct answer is option C.
Tax is reduced from casual incomes at………………..
A. 10% + surcharge and cesses.
B. 20% + surcharge and cesses.
C. 30%.
D. none of these.
✅ The correct answer is option C.
Grossing up of interest on securities is required when……………….
A. interest is received after t.d.s.
B. they are central govt. securities.
C. the interest on bank deposit is less than rs. 10,000.
D. none of these.
✅ The correct answer is option A.
Which of the following income from other sources is not taxable?
A. dividend from co-operative society.
B. dividend from foreign company.
C. dividend from domestic company.
D. winnings from lottery.
✅ The correct answer is option C.
Which one of the following is not an income from other sources?
A. interest on fixed deposit in bank.
B. winnings from cross word puzzles.
C. gift in excess of rs.50,000 from an unrelated person.
D. profit on sale of building.
✅ The correct answer is option D.
Income from other sources is a……………..
A. residuary head of income.
B. major head of income.
C. income from a single source.
D. constant and regular income.
✅ The correct answer is option A.
Tax on long term capital gain is………………
A. 10%.
B. 20%.
C. 30%.
D. 25%.
✅ The correct answer is option B.
The maximum amount deductible u/s 80GG in respect of rent paid is ……………………
A. rs: 10,000
B. rs: 12,000
C. rs: 20,000
D. rs: 24,000
✅ The correct answer is option D.