SCDL Taxation Assignments,SCDL PGDBA 4th Sem Assignments

SCDL Taxation Assignments
SCDL PGDBA 4th Sem Assignments
SCDL 4th Sem Assignments/Papers of Taxation

Multiple Choice Multiple Answer
Question The entertainment allowance received by the Government employees is included in their salaries and the deduction is allowed to the extent of least of the following amounts :-
Correct
Answer
Actual amount of Entertainment Allowance received. ,
Rs. 5,000 , 1/5th of Salary
Your Answer Actual amount of Entertainment Allowance received. ,
Rs. 5,000 , 1/5th of Salary

True/False
Question Income Tax Act, 1961 recognizes Written Down Value (WDV) method as well as straight line method for the computation of depreciation u/s 32 this act.
Correct
Answer
False
Your Answer False

Multiple Choice Multiple Answer
Question Profits earned by an Industrial Undertaking engaged in other than infrastructure development is available under Section 80IB for :-
Correct Answer
Operation of Ship , Hotels situated in hilly area, rural area or place of pilgrimage , Company engaged in scientific and industrial research
Your Answer
Operation of Ship , Hotels situated in hilly area, rural
area or place of pilgrimage

Multiple Choice Single Answer
Question Which of the following expenditure is in the nature of revenue expenditure?
Correct Answer
Expenditure incurred as discount on issue of debentures
Your Answer
Expenditure incurred as discount on issue of debentures

Select The Blank
Question If sum received is net of TDS then it is ________ to include in income from other sources.
Correct Answer
Grossed up
Your Answer Grossed up

True/False
Question Interest paid on the loan for acquiring a capital asset will be considered to be a part of cost of acquisition.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question Mr. A whose Gross Total Income, before allowing deductions under Chapter VI-A is Rs. 1,45,000, wants to make the investments in the following alternative forms Rs. 80,000 in PPF and Rs. 20,000 in Infrastructure Bonds. The amount of rebate available to him u/s 88 is :-
Correct Answer
Rs. 18,000
Your Answer
Rs. 18,000

Multiple Choice Single Answer
Question Interest on specified securities or premium on redemption is exempt for :-
Correct Answer
Non resident Indian
Your Answer
Non resident Indian

True/False
Question As per section 2(11) of the Income Tax Act, Block of Assets includes both tangible as well as intangible assets.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question Deductions in respect of Certain Incomes received under Section 80L is available in respect of
Correct Answer
Interest on Central or State Government Securities ,
Interest on National Saving Certificates (NSCs)
Interest on National Saving Scheme, 1992 (NSS) ,
Bank Interest
Your Answer
Interest on Central or State Government Securities ,
Interest on National Saving Certificates (NSCs)
Interest on National Saving Scheme, 1992 (NSS) ,
Bank Interest

Multiple Choice Single Answer
Question Tax liability of a person is based on :-
Correct Answer
Residential status
Your Answer
Residential status

Multiple Choice Multiple Answer
Question For the purpose of income tax, the perquisites can be classified into :-
Correct Answer
Perquisites which are taxable in case of all types of employees , Perquisites which are taxable only in the hands of specified employee
Your Answer
Perquisites which are taxable in case of all types of employees , Perquisites which are taxable only in the hands of specified employee

Select The Blank
Question For an individual as a citizen of India who leaves India in the relevant previous year for the purpose of employment has to be in India for ________ days or more during previous year.
Correct Answer
182
Your Answer
182

Multiple Choice Single Answer
Question Income earned in previous year is subjected to tax in :-
Correct Answer
Assessment year
Your Answer
Assessment year

Multiple Choice Multiple Answer
Question Following professional institutions have their incomes exempt from tax :-
Correct Answer
Town planning , Company secretary , Accounting

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