Income Tax and Corporate Tax Planning-Deduction from Gross Total Income [NTA-NET (UGC-NET) Commerce (08)]: Questions 1 - 3 of 6

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Question 1

Appeared in Year: 2019

Question Match List-Ⅰ List-Ⅱ▾

Match List I with List II: (June)

List-Ⅰ (Column-I)List-Ⅱ (Column-II)
(A)

80 CCD

(i)

Deduction in respect of contribution to national pension system

(B)

80 TTA

(ii)

Deduction in respect of payment of interest on loan taken for higher education

(C)

80 EE

(iii)

Deduction in respect of interest on deposits in savings account

(D)

80 E

(iv)

Deduction in respect of interest on loan taken for residential house property

Choices

Choice (4)Response
  • (A)
  • (B)
  • (C)
  • (D)

a.

  • (ii)
  • (i)
  • (iii)
  • (iv)

b.

  • (i)
  • (ii)
  • (iv)
  • (iii)

c.

  • (i)
  • (iii)
  • (iv)
  • (ii)

d.

  • (iii)
  • (i)
  • (ii)
  • (iv)

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Question 2

Appeared in Year: 2019

Question MCQ▾

In tax laws donation to approved and notified association for scientific research is allowed as (June)

Choices

Choice (4)Response

a.

of the donation

b.

of the donation

c.

of the donation

d.

of the donation

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Question 3

Appeared in Year: 2019

Question Assertion-Reason▾

Assertion(Ꭺ)

Tax should not be charged on dividend income from the shareholders (December Evening 6thShift)

Reason(Ꭱ)

Some economists are of the opinion that when tax has already been paid on the profit of the company and balanced is distributed as dividend to the owners; tax need not be levied on them

Choices

Choice (4)Response

a.

Both Ꭺ and Ꭱ are false

b.

Ꭺ is false but Ꭱ is true

c.

Both Ꭺ and Ꭱ are true but Ꭱ is NOT the correct explanation of Ꭺ

d.

Both Ꭺ and Ꭱ are true and Ꭱ is the correct explanation of Ꭺ

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