Inter PN-7 Direct and Indirect Taxation Quiz 3

1. Liability to deduct tax at source in case on income from interest on securities arises at the time of –

2. Advance Tax shall be payable by any person in respect of current income is

3. Where a member of a HUF has converted or transferred his self- acquired property for inadequate consideration into joint family property, income arising there from is taxable.

4. The maximum amount which can be donated in cash for claiming deduction under section 80G for the P.Y. 2023-24 is –

5. Deduction u/s 80JJAA in respect of employment of new workers shall be allowed to-

6. Rebate in Tax u/s 87A, is applicable to:

7. Deduction u/s 80D is allowed if the premium is paid to –

8. Deduction u/s 80C in respect of LIP, contribution to provident fund etc., is allowed to –

9. The maximum period for which Speculation Loss can be carried forward is:

10. As per Sec. 64(1A), income accruing to a minor shall be clubbed in the income of –

11. Clubbing provisions under Sec. 64(1)(vi) are applicable where the asset is transferred by an individual for inadequate consideration to –

12. When assessment has not been completed, revised return can be filed within              from the end of the relevant previous year.

13. Where assessment has not been completed, belated income tax return for assessment year 2024-25 can be filed upto:

14. On salary, tax is required to be deducted at the time of:

15. TDS is not required to be deducted u/s 194A if the amount of interest on loan does not exceed:

16. Advance tax is required to be paid by all assessee only if estimated advance tax liability is:

17. Maximum limit for deduction u/s 80TTA is:

18. Deduction u/s. 80JJA is available if the assessee:

19. Unabsorbed business losses cannot be carried for more than -

20. Income arising to a minor married daughter shall be –

21. Mr. X’s minor daughter earned ₹ 50,000 from his special talent. This income will be clubbed with –

22. Casual Income received by the Assessee is –

23. Commission received by a Director of the Company is charged under the head:

24. Adi received ` 70,000 from his friend on the occasion of his birthday:

25. Winning from Lotteries, Crossword Puzzles, Horse Races & Other Races, Card Game, etc. are casual income & hence-