Free CTEP Exam Braindumps (page: 60)

Page 60 of 119

Which of the following statements about Discretionary Trust is/are correct?

  1. Both (i) and (ii)
  2. Only (i)
  3. Only (ii)
  4. Neither (i) nor (ii)

Answer(s): A



The Gift Tax Act came into force on _________________ and was deleted vide the Finance Act,__________.

  1. 1st April 1958;1998
  2. 1st April 1958;2008
  3. 31st March 1958;1998
  4. 31st March 1958;2008

Answer(s): A



Which of the following statement(s) about Living Trust is/are correct?

  1. Both (i) and (ii)
  2. Only (i)
  3. Only (ii)
  4. Neither (i) nor (ii)

Answer(s): A



Which of the following is/are advantage(s)of Living Trust?

  1. Both (i) and (ii)
  2. Neither (i) or (ii)
  3. Only (i)
  4. Only (ii)

Answer(s): C



Page 60 of 119



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