Question 1

The deduction in respect of medical treatment of a dependent who is a person with disability is:

Accepted Answer

A)  Rs: 1,50,000
B)  Rs: 1,25,000
C)  Rs: 75,000
D)  None of theseE) None of the above
F) A) and D)

Question 2

The losses of non-speculation business can be carried forward and set off against:

Accepted Answer

A)  Profit from non-speculation business only
B)  Profit from any business
C)  Income from salary
D)  All of the aboveE) B) and C)
F) A) and D)

Question 3

If a partner lets out his buildings to the firm, the rent received by him will be taxed under:

Accepted Answer

A)  Profits and gains from business
B)  Income from house property
C)  Income from other sources
D)  None of theseE) B) and C)
F) A) and B)

Question 4

S T C L can be carried forward and set-off against:

Accepted Answer

A)  S T C G only
B)  L T C G only
C)  S T C G or L T C G
D)  Income under any headE) A) and D)
F) All of the above

Question 5

The deduction in respect of medical treatment of a dependent who is a person with disability is:

Accepted Answer

A)  Rs: 1,50,000
B)  Rs: 1,25,000
C)  Rs: 75,000
D)  None of theseE) A) and B)
F) A) and C)

Question 6

L T C L can be carried forward for:

Accepted Answer

A)  4 years
B)  6 years
C)  8 years
D)  Any number of yearsE) A) and D)
F) C) and D)

Question 7

Which among the following deals with deduction in respect of royalty income of authors?

Accepted Answer

A)  80JJA
B)  80QQB
C)  80TTB
D)  80PE) A) and B)
F) None of the above

Question 8

When the income of minor child is included in the income of parent, then parent is entitled to an exemption up to:

Accepted Answer

A)  Rs: 1,000 per child
B)  Rs: 1,500 per child
C)  Rs: 3,000 per child
D)  None of theseE) B) and C)
F) A) and D)

Exam 4: Taxation and Deductions

The deduction in respect of medical treatment of a dependent who is a person with disability is:

Correct Answer
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When the income of minor child is included in the income of parent, then parent is entitled to an exemption up to:

Correct Answer
verified

The losses of non-speculation business can be carried forward and set off against:

Correct Answer
verified

If a partner lets out his buildings to the firm, the rent received by him will be taxed under:

Correct Answer
verified

L T C L can be carried forward for:

Correct Answer
verified

Which among the following deals with deduction in respect of royalty income of authors?

Correct Answer
verified

The deduction in respect of medical treatment of a dependent who is a person with disability is:

Correct Answer
verified

S T C L can be carried forward and set-off against:

Correct Answer
verified

Exam 4: Taxation and Deductions

The deduction in respect of medical treatment of a dependent who is a person with disability is:

Correct AnswerverifiedShow Answer

When the income of minor child is included in the income of parent, then parent is entitled to an exemption up to:

Correct AnswerverifiedShow Answer

The losses of non-speculation business can be carried forward and set off against:

Correct AnswerverifiedShow Answer

If a partner lets out his buildings to the firm, the rent received by him will be taxed under:

Correct AnswerverifiedShow Answer

L T C L can be carried forward for:

Correct AnswerverifiedShow Answer

Which among the following deals with deduction in respect of royalty income of authors?

Correct AnswerverifiedShow Answer

The deduction in respect of medical treatment of a dependent who is a person with disability is:

Correct AnswerverifiedShow Answer

S T C L can be carried forward and set-off against:

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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