CS Study Notes - Executive, Professional & Foundation
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Interest on borrowed capital for acquisition of any asset before put to use of that asset, which is used for business or profession, will be-
Anonymous Quiz
15%
Allowed as deduction
72%
Added to the actual cost
6%
Allowed in installment
7%
Not allowed
Gayatri Partnership Firm gave interest of Rs. 25,000 to each of its 3 partners. TDS required to be deposited by Gayatri Partnership Firm u/s 194A will be –
Anonymous Quiz
18%
7,500
14%
2,500
64%
No TDS
4%
3,750
Gupta and sons, a Hindu undivided family, carrying on business of food grain agents has total income of Rs. 10,25,000. It has paid health insurance premium of Rs. 25,000 of karta. The tax liability of Hindu undivided family is _
Anonymous Quiz
6%
Rs. 1,33,390
20%
Rs. 1,28,750
68%
Rs. 1,17,000
6%
Rs. 3,09,000
➑️DT MCQ from ICAI New Booklet 2023

3. In the P.Y.2022-23, Mr. Ganguly, a resident individual aged 60 years, earned income from profession (computed) 1,45,000, winnings from card games 1,50,000 (gross). He also has interest of 40,000 on fixed deposit with banks and 9,000 on savings account with bank. He deposited 1,50,000 in PPF.

What is the total income of Mr. Ganguly for P.Y.2022-23, assuming that he does not opt for section 115BAC?

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3. Question given above

@Mission_CA_Final_MCQsπŸ†
Anonymous Quiz
27%
1,45,000
47%
1,50,000
21%
1,85,000
5%
1,90,000
Mr. Nitin has earned general business income of Rs. 5,00,000 and he has suffered loss from house property amounting Rs.2,00,000. Specified business loss under Section 35AD – Rs.1,00,000 Find out the gross total income.
Anonymous Quiz
8%
Rs. 5,00,000
66%
Rs. 3,00,000
15%
Rs. 2,00,000
11%
Rs. 4,00,000
Mr. Ashish's, minor son Atul, earning interest Rs.40,000 on fixed deposit with Niranjan Ltd., which was gifted to him by his grandfather. Ashish's income is higher than that of Mrs. Ashish. What will be the tax consequences?
Anonymous Quiz
11%
Rs. 40,000 shall be taxable in the hands of Atul.
20%
Rs. 40,000 shall be clubbed in the total income of Mrs. Ashish.
65%
Rs. 40,000 shall be clubbed in the total income of Mr. Ashish
4%
Rs. 40,000 shall be taxable in the hands of Niranjan Ltd.
Gupta and sons, a Hindu undivided family, carrying on business of food grain agents has total income of Rs. 10,25,000. It has paid health insurance premium of Rs. 25,000 of karta. The tax liability of Hindu undivided family is _
Anonymous Quiz
5%
Rs. 1,33,390
14%
Rs. 1,28,750
76%
Rs. 1,17,000
5%
Rs. 3,09,000
AMT in case of unit of assessee located in International finance service centre
Anonymous Quiz
20%
18.5% of ATI
17%
15% of ATI
62%
9% of ATi
AMT credit shall be setoff and carry forward for
Anonymous Quiz
14%
20 years
29%
10 years
57%
15 years
🏘 DT MCQ of Nov 22 Exam

9. Mr. A has withdrawn the following amounts in cash from a post office in saving account.

August – 15 Lacs
November – 55 Lacs
Dec – 50 Lacs
March – 35 Lacs
He has not filed the ROI for AY 18-19, 19-20 & 20-21.

Compute the amount of TDS to be deducted under Section 194N.

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Why You're Missing this Out – Follow to Boost your Marks

➑️ Must Watch Video for all students who are not able focus on study right now..

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➑️ 30 Days Detailed Planning & Preparation Strategy to clear Exams

I have also discussed what steps should be taken if the syllabus is not completed yet.

Must Watch Video:
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βœ”οΈ  Avoid these 5 Mistakes for Superb Results in Nov 23

Also discussed Amazing Technique to Revise syllabus quickly.

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https://youtu.be/gcPvvhiitO8?si=GXK1sIWNO6ld4MoV
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CS Study Notes - Executive, Professional & Foundation
βœ”οΈ  Avoid these 5 Mistakes for Superb Results in Nov 23 Also discussed Amazing Technique to Revise syllabus quickly. Don't miss the video. https://youtu.be/gcPvvhiitO8?si=GXK1sIWNO6ld4MoV
Life may throw uncertainties your way, but hard work guarantees rewards! ✨

Remember,
Don't let the world discourage you,
Use your success to inspire others! πŸ’ͺ

Have a fantastic day filled with positivity!

Before Starting Preparation Today Let's Make sure to follow this strategy for Quick Revision

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Forwarded from CA Divyesh Vaghela
Whenever you are tired, keep this in your mind

Every small step you take now matters, and the universe notices it.

Don't underestimate your struggles,

Soon, they'll help you achieve your dream βœ…

Complete your daily targets with full planning and now for last few days follow the timetable and strategy I have discussed in this video.
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I am sure you are going to clear the exam! Just keep going.

Keep Rocking!! ❀️
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