45.

Any loans or deposits borrowed or repaid under section 269SS of the Act provides that the said
provisions will not apply to the loans or deposits accepted by :-
Government
Government company
Banking company including cooperative bank and post office savings bank
Insurance company
49. Any amount paid by an individual as tuition fees to any educational institution in India for the
purpose of full time education of the individual's children. The maximum allowable limit is :-
Rs. 12,000 per child per annum
Subject to the maximum of two children.
Rs.10,000 per child per annum
Subject to the maximum of three children.

50. Combined total of five heads of income equals :-

Gross total income
Gross taxable income
Net income
Tax amount

LIST OF ATTEMPTED QUESTIONS AND ANSWERS (Taxation_3) 200404214( Manpreet Malhotra)

1
 Construction is completed in 3 years

Multiple Choice Single Answer

Question The return of income required to be filed in the form by the Non-Corporate Assessee not
claiming the exemption under the provisions of section 11 of the Act and not having
income from business and profession is :-
Correct Answer Form No. 3 or 2D(saral)

Multiple Choice Single Answer

Question Salary paid by any partnership firm to its working partners is taxable as :-

Correct Answer Income from Business and Profession

True/False
Question The payments made u/s 43B of the Income Tax Act are allowed as deductions only if
they are actually paid.
Correct Answer True

Match The Following

Question Correct Answer Your Answer

Containers made of glass or plastic Rate of depreciation is 40% Rate of depreciation is 40%
used as refills
All intangible assets like Patents, Rate of depreciation is 25% Rate of depreciation is 25%
Trademarks, Copy Rights, Licenses
etc.
Temporary Structures Rate of depreciation is 100% Rate of depreciation is 100%

Computers Rate of depreciation is 60% Rate of depreciation is 60%

Select The Blank
Question Deduction for remuneration from foreign sources for professors, teachers etc under
Section 80R is limited to ________% of such remuneration brought in India.
Correct Answer 15

Select The Blank

Question If the asset sold or transferred by the employer to employee is in the form of computers
an electronic items, the wear and tear will be calculated @ ________ %.
Correct Answer 50 Your Answer 20