Pro Tax QuizAdminJanuary 19, 2023 Name Email Business Phone 1. Income tax rate u/s 115BAA is ---- 12% 22% 15% 25% 2. Basic Exemption Limit for a Co-operative society is -------- 250000 10000 20000 500000 3. Entertainment allowance deduction can be claimed by----------- Central Govt Employee State Govt Employee Private company employee Both A & B 4. Rate of tax for capital gain u/s 111A is ------- 10% 15% 20% 5% 5. Benefit of grandfathering u/s 112A is available only if ----------. Listed Share is sold before 31-01-2018 Listed Share is purchased before 31-01-2018 Share is unlisted Listed Share is held for less than one year 6. If assessee sells house property and purchases another house property, he can take exemption u/s ----. 54 54F 54G 54B 7. If stock is coverted into capital asset, such capital gain is taxable ------------ In the year of conversion In the year in which such stock was purchased In the year in which such asset was sold In the year of depreciation firstly taken 8. Amount received under keyman insurance policy is taxable under the head ------------ Salary Other sources Business/Profession Capital gain 9. Brought forward house property loss can be set off ---------- Only against Income from House Property Against salary and house property Any head other than capital gain Against speculation income 10. TDS u/s 194J is deductible if -------- Total payment to the professional in a year exceeds Rs.30000 Total payment to the professional in a year exceeds Rs.150000 Payment against sigle bill to professional exceeds Rs. 30000 Payment of any amount is made to professional in casdh
