Question 1

For claiming exemption u/s 546, the assessee shall acquire the new asset within

Options :

A : 2 years from the date of transfer

B : 3 years from the date of transfer

C : One year before or 2 years after the date of transfer

D : One year before or 3 years from the date of transfer

Answer: C

Question 2

What are the advantages of 100% book building?

Options :

A : Marketing of issue to wholesale bidders work out cheaper

B : Issue can be completed in single stage

C : Time lag between pricing and listing is less

D : All of the above

Answer: D

Question 3

A person is said to be Agnate of another if the two of them are

Options :

A : Related by blood or adoption entirely or wholly through males

B : Related by blood or adoption entirely or wholly through females

C : Related by blood or adoption entirely or wholly through their relatives

D : Related by blood or adoption entirely or wholly through the guardian other than family member

Answer: A

Question 4

What is the quantum of deduction allowed u/s 80U?

Options :

A : Rs. 40,000

B : Rs. 75,000

C : Rs. 60,000

D : Rs. 55,000

Answer: D

Question 5

Mrs. Meghana, a Hindu woman died without making a Will. She has left behind self-acquired property as well as property which she had got from her parents. Mrs. Meghana is survived by her husband and two children. According to the Hindu succession act 1956, how the whole property will be distributed and to whom it belongs?

Options :

A : Meghana-s husband and two children have equal rights (one-third each) on her self-acquired property

B : elf-acquired property as well as property which she had got from her parents shall be distributed in equal ratio to her husband and two children

C : Mrs. Meghana-s property which is acquired from her parents shall be distributed to her two children in equal ratio. Her husband does not have a right on such property

D : Both A and C of the above

Answer: D