There are_________ steps to implement Philanthropy Planning and the first step is__________.
There are ______ steps in Selling process. The last step in Selling Process is ____________.
For which of the following stage of Business Cycle a succession plan is not prepared?
_________ is the most appropriate method for donors who prefer to make gifts at the end of their life and _________ is the most appropriate method for donors who prefer to give gifts during their lifetime.
When a deceased dies issueless leaving a widow there is no question of a deemed partition under ___________ of the Hindu Succession Act.
In context to Workmen’s Compensation Act, any claim for the compensation should be made within _________ of the occurrence of the accident or from the date of death.
In_________ type of arrangement, the mortgagor binds himself to repay the mortgage money on a certain date.
The list of managing body needs for be fixed with Registrar of Joint Stock companies
If the NPV of buy alternative is Positive and the NPV of incremental lease effect is negative then the correct decision is to___________.
Tax rate on foreign sourced income in Singapore is ____ to _______ subject to conditions.
In ________ the Income Tax Act was imposed, which was based on the Model Colonial Territories Income Tax Ordinance ________, which was devised for British colonies at that time.
During the PY 2008-09 a charitable trust earned an income of Rs. 5 lakh out of which Rs. 3 lakh was received during the PY 2008-09 and the balance Rs. 2 lakh was received during the PY 2010-2011.To claim full exemption of Rs. 5 lakh in the PY 2008-09, state:
_____________ is for Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and___________ if for Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding.
Which of the following statement(s) about Uniform Gifts to Minor Act (UGMA) is/are correct?
Dinesh is entitled to a basic salary of Rs. 5,000 p.m. and dearness allowance of Rs. 1,000 per month, 40% of which forms the part of the retirement benefits. He is also entitled to HRA of Rs. 2,000 per month. He actually pays Rs. 2,000 per month as rent for a house in Delhi. Compute the taxable HRA.
Scholarship received by a student was Rs. 2,000 per month. He spends Rs. 15,000 for meeting the cost of education during the year. The treatment for the balance amount Rs. 9,000 is:
In case of self occupied property, higher deduction u/s24(b) for interest on loan for construction can be claimed if borrowing was made
Which of the following statement(s) about Power of Attorney (POA) is/are correct?
According to ___________ of the Registration Act, 1908 the registration of a Will is not compulsory. A suit can only be filed within ___________days after the refusal of registration by the Registrar. An oral will made by a soldier above 18 years of age will be valid for __________ while a written will be valid for ___________.
As per the Ancient Hindu Law, there are ____________ Vedas. Scholars have determined that ___________ is the oldest of the Vedas.
R acquired a property by way of gift from his father in the previous year 1991-92 when its FMV was Rs. 3 lakh. The father had acquired the property in the previous year 1983-84 for Rs. 2 lakh. This property was introduced as capital contribution to a partnership firm in which R became a partner on 10/06/2011. The market value of the asset as on 10/06/2011 was 10 lakh, but it was recorded in the books of account of the firm at Rs. 8 lakh. Compute the capital gain chargeable in the hands of R.
Under the provisions of Section 6 of the Hindu Succession Act, 1956, where a Hindu male dies intestate on or after ______________, having at the time of his death an interest in a Mitakshara coparcenary property leaving behind a female heir of the class I category, then his interest in the coparcenary property shall devolve by succession under that Act and not by survivorship?
The Inland Revenue Authority of Singapore (IRAS) was established on ___________, by legislation as a statutory board under the Ministry of Finance.
Wealth Tax is charged at _________ the amount by which the net amount exceeds Rs. ____________________
As per Section 164(1) a trust for the benefit of an unborn person is liable to income tax at maximum rate of Income Tax, currently_________.
A written instrument is necessary when a Trust is created in relation to an immovable property of the value of ______________ and upwards.
Which of the following statement(s) about Indian Contract Act, 1872 is/are correct?
One of the essential condition for obtaining exemption of the income of a charitable trust is that at least_____________ of the income should be applied for charitable purposes in India with certain exceptions and exemptions.
To be qualified as a Simple Trust which of the following conditions has to be met?
A member is defined under ___________ of the Societies Registration Act and a Governing body is defined under_______________ of the Societies Registration Act.
Money laundering Process has ____________ stages. The Financial Action Task Force on Money Laundering was formed in __________ by the G7 countries.
Lokesh purchased a flat on 1-4-1996 for Rs. 10,00,000/-. He sells the same flat on 1-10-2006 for Rs. 25,00,000/-. As a CTEP calculate the Indexed Cost of Acquisition on which capital gain would be calculated. (The CII of year 1995-96 is 281, for year 1996-97 is 305, for year 2005-06 is 497 and for year 2006-07 is 519).
Your client, a businessman has a house worth Rs. 2.1 crore and a farm house worth Rs. 85 lakh. His business is worth Rs. 10 crore as per last balance sheet. He has two other partners in the business having stakes of 24% each. He has two cars purchased at Rs. 40 lakh and Rs. 20 lakh, the latter being in personal account. The cars have depreciated/market value at Rs. 30 lakh and Rs. 8 lakh respectively. His joint Demat account, wife being primary holder, has stocks worth Rs. 1.65 crore. The business has taken Keyman‟s insurance on his life of value Rs. 1.5 crore. He has himself insured his life for an assured sum of Rs. 1.5 crore. You evaluate your client’s estate in case of any exigency with his life as _____.
What would be the tax liability if tea and snacks are provided in the office after office hours?
Which of the following statement(s) about Employee State Insurance Act is/are correct?
Compulsory maintenance of account is required u/s 44AA of IT, if the gross receipt/ total sales exceed _______
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.
Choose the amount of final tax liability of Mr. Raj for the assessment year 2007-08:
Tax slab for male / HUF(for AY 2007-08)
Rs. 0 to 100000 — No Income Tax
Rs. 1,00,001 to 1,50,000 — 10%
Rs. 150001 to 2,50,000 — 20%
Rs. 2,50,001 and above — 30%
Note: A surcharge of 10% on income tax amount is payable if total income is exceeding Rs. 10,00,000 and a 2% education cess is payable on the income tax amount and surcharge.
Section 45 of the Insurance Act,1938 places a check on the power of insurer to avoid life policy on the ground of innocent misrepresentation after the expiry of ____________ of the policy term
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TESTED 03 May 2024
