3.Budget 2020-21 had increased the limit for tax audit to `5 crore for those who carry out 95% of their transactions digitally. To further incentivise digital transactions and reduce compliance burden, Budget 2021-22 proposes to increase this limit for tax audit for such persons from `5 crore to:
a) 8 crore
b) 10 crore
c) 20 crore
d) 50 crore
a) 8 crore
b) 10 crore
c) 20 crore
d) 50 crore
In respect of OPCs, Budget 2021-22 seeks to incentivize them by reducing the residency limit for an Indian citizen to set up an OPC from 182 days to:
a) 60 days
b) 90 days c) 120 days d) 150 days
a) 60 days
b) 90 days c) 120 days d) 150 days
Anonymous Quiz
13%
a
31%
b
43%
c
13%
d
Which is/are true?
1. Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of Reserve Bank of India.
2. Budget 2021-22 talks about moving amendments to DICGC Act to streamline the provisions, so that if a bank is temporarily unable to fulfil its obligations, the depositors of such a bank can get easy and time- bound access to their deposits to the extent of the deposit insurance cover.
a) 1 only
b) 2 only
c) Both1and2
d) None of the above
1. Deposit Insurance and Credit Guarantee Corporation is a wholly owned subsidiary of Reserve Bank of India.
2. Budget 2021-22 talks about moving amendments to DICGC Act to streamline the provisions, so that if a bank is temporarily unable to fulfil its obligations, the depositors of such a bank can get easy and time- bound access to their deposits to the extent of the deposit insurance cover.
a) 1 only
b) 2 only
c) Both1and2
d) None of the above
Budget 2021-22 proposes to amend the Insurance Act, 1938 to increase the permissible FDI limit from 49% to:
a) 51%
b) 65% c) 74% d) 100%
a) 51%
b) 65% c) 74% d) 100%
Anonymous Quiz
29%
a
22%
b
37%
c
12%
d
Towards investor protection, Budget 2021-22 proposes to introduce which of the following as a right of all financial investors across all financial products:
a) investor circular
b) investor charter c) investor folio d) Investor handbook
a) investor circular
b) investor charter c) investor folio d) Investor handbook
Anonymous Quiz
19%
a
27%
b
40%
c
14%
d
In the budget of 2018-19, Government had announced its intent to establish a system of regulated gold exchanges in the country. Budget 2021-22 appoints which of the following agencies to regulate such agencies?
a) SEBI
b) RBI c) MCA d) PFRDA
a) SEBI
b) RBI c) MCA d) PFRDA
Anonymous Quiz
37%
a
34%
b
13%
c
16%
d
Budget 2021-22 seeks to consolidate the provisions of which of the following laws into a rationalized single Securities Markets Code?
1. SEBI Act, 1992
2. Securities Contracts (Regulation) Act, 1956 3. Reserve Bank of India Act, 1934
1. SEBI Act, 1992
2. Securities Contracts (Regulation) Act, 1956 3. Reserve Bank of India Act, 1934
Anonymous Quiz
45%
1 & 2
20%
2 & 3
13%
1&3
22%
All
Budget 2021-22 aims to give a further boost to the non-conventional energy sector. Which of the following is not part of non-conventional energy sector?
a) Wind Energy
b) Solar Energy c) Biomass d) Coal
a) Wind Energy
b) Solar Energy c) Biomass d) Coal
Anonymous Quiz
15%
a
23%
b
20%
c
42%
d
Pick the odd one out a) Section 139(6)
b) Section 139 (1) c) Section 139(8) d) Section 139(10)
b) Section 139 (1) c) Section 139(8) d) Section 139(10)
Anonymous Quiz
16%
a
26%
b
28%
c
29%
d
Which of the following is not IT related risk a) Unauthorized access to data
b) Unauthorized changes to system of program c) Sampling Risk
d) Lack of adequate segregation of duties
b) Unauthorized changes to system of program c) Sampling Risk
d) Lack of adequate segregation of duties
Anonymous Quiz
8%
a
13%
b
41%
c
38%
d
In case of banking companies, Accounts overdue between 31 to 60 days, are classified as a) SMA 0
b) SMA 1
c) SMA 2 d) None of these
b) SMA 1
c) SMA 2 d) None of these
Anonymous Quiz
22%
a
43%
b
20%
c
14%
d
In case of classification of advance as doubtful assets, provision is required by the bank for unsecured portion
a) 100% b) 75% c) 60% d) 50%
a) 100% b) 75% c) 60% d) 50%
Anonymous Quiz
22%
a
35%
b
28%
c
15%
d
Assets which has been classifies as NPA for a period exceeding 12 months, are classified as a) Standard Assets
b) Substandard Assets c) Doubtful Assets
d) Loss Assets
b) Substandard Assets c) Doubtful Assets
d) Loss Assets
Anonymous Quiz
20%
a
26%
b
35%
c
19%
d
Which of the following is not type of bank a) Commercial Banks
b) Regional Rural Bank
c) Payment Bank d) None of these
b) Regional Rural Bank
c) Payment Bank d) None of these
Anonymous Quiz
5%
a
8%
b
63%
c
24%
d
Under section 35 of the companies Act, the person liable for misstatement means a) The Company
b) Director of the Company c) Promoter of the Company d) All of these
b) Director of the Company c) Promoter of the Company d) All of these
Anonymous Quiz
12%
a
21%
b
8%
c
60%
d
LLP shall file Annual return with Registrar in _________ a) Form 11
b) Form 12 c) Form 13 d) Form 14
b) Form 12 c) Form 13 d) Form 14
Anonymous Quiz
24%
a
33%
b
29%
c
13%
d
Issue of bonus share is authorized by-----
a) Passing an OR in the General Meeting
b) Passing SR in the General Meeting c) Passing OR in the Annual General Meeting d) Passing SR in the Annual General Meeting
a) Passing an OR in the General Meeting
b) Passing SR in the General Meeting c) Passing OR in the Annual General Meeting d) Passing SR in the Annual General Meeting
Anonymous Quiz
20%
a
29%
b
23%
c
28%
d
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