441. To be a long term capital asset, a non financial asset should be held more than…………….
A. 12 months.
B. 24 months.
C. 36 months.
D. 60 months.
✅ The correct answer is option C.
SSC
442. Entertainment allowance to govt. employees is exempted, which is least of 20% of basic salary or actual allowance or……………..
A. rs. 1,000.
B. rs. 2,000.
C. rs. 20,000.
D. rs. 5,000.
✅ The correct answer is option D.
443. As per the first basic condition to determine residential status, a person should have been in India during the previous year concerned for………………
A. 60 days or more
B. 120 days or more.
C. 182 days or more.
D. 240 days or more.
✅ The correct answer is option C.
444. What is the time limit for holding of a Financial Asset, to be called Short Term Capital Asset?
A. not more than 6 months.
B. not more than 12 months.
C. not more than 24 months.
D. not more than 36 months.
✅ The correct answer is option B.
445. Hostel expenditure allowance is exempted up to………………
A. rs. 300 per month per child.
B. rs. 200 per month per child.
C. rs. 150 per month per chi
D.
✅ The correct answer is option A.
446. Income from sale of rural Agricultural land is………………
A. taxable capital gain.
B. exempted capital gain.
C. taxable income.
D. none of these.
✅ The correct answer is option B.
447. Children education allowance is exempted up to………………
A. rs. 200 p.m. per child.
B. rs. 300 p.m. per child.
C. rs. 100 p.m. per chi
D.
✅ The correct answer is option C.
448. Under section 44AB ‘specified date’ means, ………………………….
A. 30th june
B. 30th september
C. 30th november
D. 31st december
✅ The correct answer is option B.
449. Education allowance is exempted for a maximum of……………….
A. one child.
B. two children.
C. three children.
D. four children.
✅ The correct answer is option B.
450. Additional depreciation is allowed at half the rate, if the asset is used in the initial year for……………………………
A. 195 days.
B. 199 days.
C. 360 days.
D. less than 180 days.
✅ The correct answer is option D.