Set 3 MCQ Questions and Answers
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1) Which one of the following is not an admissible expense
2) Tax on short-term gain on sale of listed shares is......
3) Rate of T.D.S for unlisted securities, including cesses is.......
4) Which of the following is not a capital asset.
5) A partnership firm sold a residential house. The firm will get exemption under section .................... on capital gains
6) Income of a minor child is included in the total income of ...........................
7) Which of the following is eligible for 100% deduction ?
Answer : C Discuss
8) Section C applies on ..........
9) Donation on PM’s National Relief Fund is deductible 100% out of the gross total income of the assessee, under section ......
10) According to section ........................ , TDS shall be payable during the financial year in respect of the total income of the assessee.