Question 1

Which of the following statement(s) about FDAP Income is/are correct? 101

Options :

A : Only (i)

B : Only (ii)

C : Both (i) and (ii)

D : Neither (i) or (ii)

Answer: C

Question 2

The Gift Tax Act came into force on _________________ and was deleted vide the Finance Act,__________.

Options :

A : 1st April 1958;1998

B : 1st April 1958;2008

C : 31st March 1958;1998

D : 31st March 1958;2008

Answer: A

Question 3

Incase of Divorce by mutual consent, on the motion of both the parties made not earlier than __________ after the date of the presentation of the petition and not later than____________ after the said date, if the petition is not withdrawn in the meantime, court shall, on being satisfied on all grounds pass a decree of divorce declaring the marriage to be dissolved with effect from the date of the decree.

Options :

A : 6 months, 12 months

B : 6 months,18 months

C : 12 months, 18 months

D : 12 months, 24 months

Answer: B

Question 4

Mr. Sahil has two daughter and is in receipt of education allowance of Rs 200 per month for each of them. What would be the taxable allowance in the hands of Mr. Sahil for the full FY.

Options :

A : NIL

B : Rs 1,200

C : Rs 2,400

D : Rs 4,800

Answer: C

Question 5

Deduction u/s 80-IC regarding special provisions for enterprices in special catogries states is allowed to the extent of

Options :

A : 100% of profits and gains for ten assessment years

B : 100% of profits and gains for ten assessment years in case of any undertaking or enterprise in the States of Sikkim or North Eastern Region and 50% in case of undertaking in Uttaranchal and Himachal Pradesh

C : 100% of profits and gains for ten assessment years in case of any undertaking or enterprise in the States of Sikkim or North Eastern States and 100% of profits and gains for the first 5 assessment years and 25% (30% in case of companies) for next 5 assessment years.

D : None of the these

Answer: C

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