Income Tax Online Test

1. The benefit of exemption under section 54 in respect of capital gains arising on transfer of residential house is available to _______.

For the year 2012-13, Mr. Kumar paid bonus of Rs. 84,000 to his employees. Apart from bonus of Rs. 84,000, bonus of Rs. 16,000 pertaining to the year 2012-13 was paid on 15-4-2013. What will be the amount of deduction on account of bonus which can be claimed by Mr. Kumar for the

year 2012-13 (he follows mercantile system of accounting)?

Mr. Rajendra provides you the following information regarding his business income. 1) Business income before adjusting current year's depreciation is of Rs. 4,84,000 2) Current year's depreciation as per section 32 amounted to Rs. 5,84,000. 3) Brought forward business loss of the year 2011-12 is of Rs. 50,000. 4) Un-absorbed depreciation for the year 2005-06 is of Rs. 2,00,000. What will be the amount of un-absorbed depreciation to be carried forward to the next year?

When a company gives right to the existing share holders to purchase right shares, then the shareholders are having which of the following options?

At what rate an assessee can claim depreciation in respect of furniture and fittings used by him in his business?

If during the year of its acquisition, an asset is put to use for less than ______ days, then, depreciation in respect of such an asset for that previous year will be limited to ____ of the amount of normal depreciation.

Which of the following conditions should be satisfied by the assessee to claim depreciation?

Exemption under section 54 is revoked if the assessee can not purchase/construct a new residential house within the prescribed period. To avoid revocation, the assessee can demand extension of the prescribed period from the Assessing Officer.

An assessee can claim depreciation in respect of tangible assets only. No depreciation can be claimed on intangible assets.

. On 18-10-2012, Mr. Kumar sold silver for Rs. 2,52,000. It was purchased on 10-5-10 for Rs. 52,000. To claim exemption under section 54F he should purchase a residential house costing _______ upto _______.


In this test you can check your knowledge of Income Tax.It is very useful for all commerce student,Ca student & Others student .It is also useful to working professionals.This test create awareness in you about income tax & it will helpful to all of you.This is multiple choice test. You can chose right answer from given option.


Naveen Medar

what you mean by income tax planing

2421 days 21 hours 59 minutes ago


please shown explanation for the answers

3217 days 35 minutes ago

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