CMA


    
                
                            TOPIC - DIRECT TAXATION 
 
1.    Which of the following is not a case of deemed ownership of house property?
A.   Transfer to spouse for inadequate consideration
B.    Transfer to minor child for inadequate consideration
C.   Co-owner of a Property
D.   None of the above

2.    Where assessment has not been completed, belated income tax return for the
      A.Y. 2018-19 can be filed up to:
A.   31.03.2019
B.    31.02.2019
C.   31.03.2020
D.   Cannot be filed belatedly.

3.    An individual estimates that he is required to pay ` 1,00,000 as advance tax. By 15th of December, how much amount must be paid by the individual?
A.   30,000
B.    75,000
C.   1,00,000
D.   Nil

4.    Section 80 RRB the Income-tax Act, 1961 deals with deduction from gross total income in respect of income by way of
A.   Interest on debentures of a government company
B.    Royalty income on authors
C.   Royalty on patents
D.   Royalty from text-books
5.    Preliminary expenses that can be amortized under the Income-tax Act 1961 has to be restricted to   of the cost of the Project.
A.   5%
B.    15%
C.   20%
D.   None of the above

6.    Maximum Marginal Rate for the A.Y. 2018-19 is   .
A.   34.5%
B.    33.99%
C.   35.535%
D.   None of the above

7.    Rebate u/s 87A can be claimed by
A.   Any resident
B.    Resident Individual
C.   Any person
D.   Any person other than non resident

8.    As per section 115BBDA dividend from Indian companies is taxable in the hands of certain recipients at when the aggregate dividend exceeds `           .
A.   10%, 1 lakh
B.    15%, 10 lakhs
C.   10%, 10 lakhs
D.   5%, 5 lakhs

9.    ICDS VIII deals with   .
A.   Government Grants
B.    Securities
C.   Revenue recognition
D.   Construction Contract

10.  Income escaping assessment is covered under section             .
A.   144
B.       156
C.   143(3)
D.   147

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