Free CTEP Exam Braindumps (page: 63)

Page 63 of 119

Which of the following statement(s) about Inheritance Tax is/are correct?

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

Answer(s): D



Which of the following is an essential condition for obtaining exemption of the income of a Charitable Trust?

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

Answer(s): A



The accounts of the Trust should be audited where the income (including corpus donations) exceeds ______________. One of the essential condition for obtaining exemption of the income of a Charitable Trust is that at least _______ of the income should be applied to charitable purposes in India.

  1. Rs.1,50,000; 85%
  2. Rs 50,000; 85%
  3. Rs. 50,000; 75%
  4. Rs.1,50,000; 85%

Answer(s): B



______________ of the Income Tax Act provides for the registration of a Charitable Trust.

_____________ of the Income Tax Act contains the provision that the profits and gains of the business carried on by a charitable trust would be fully exempt from tax if it is attains the objects of the trust.

  1. Section 12A, Section 11 (4A)
  2. Section 11A, Section 12 (4A)
  3. Section 12A, Section 11 (2A)
  4. Section 11A, Section 12 (2A)

Answer(s): A



Page 63 of 119



Post your Comments and Discuss AAFM CTEP exam with other Community members:

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Helpful questions for preparation foe LA exam
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Srivats commented on October 25, 2024
Hello, Great learning. Thank you. Looks like Question 13's answer should be D. "If you plan to use the segment again, stop the publish schedule instead" as highlighted in doc.
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helpful questions also in other forums
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As Muhammad Saleem comented, question 20 is wrong. Entities are found in the Data layer and not in the Interface layer.
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