Free CTEP Exam Braindumps (page: 67)

Page 67 of 119

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

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

Answer(s): C



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

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

Answer(s): C



Under ______________, deduction (special exemptions) in respect of donations to certain funds, charitable institutions etc. is granted. In order to be eligible under this section, the charitable trust/institutions need to obtain a valid certificate by making an application to them on ____________.

  1. Section 80G, Form 10G
  2. Section 80GGC, Form 10G
  3. Section 80U, Form 10A
  4. Section 80CCG,Form 10A

Answer(s): A



Page 67 of 119



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