Free GLO_CWM_LVL_1 Exam Braindumps (page: 16)

Page 15 of 266

An HUF consisted of a father, who is a widower, his three sons and a daughter. On death of the father what will the share of each of his sons?

  1. One fourth plus one sixteenth of HUF property
  2. One sixteenth of HUF property
  3. One third of HUF property
  4. One fourth of HUF property

Answer(s): D



Any amount payable and the amount of refund due under the Income Tax Act,1961 shall be rounded off to the nearest multiple of.......... ?

  1. Rs. 10
  2. Rs. 1
  3. Rs. 100
  4. No rounded off is done

Answer(s): A



How many sections are there in Householder's Insurance Policy?

  1. 15
  2. 10
  3. 12
  4. 14

Answer(s): B



Which of the following is not an essential element of a trust?

  1. A trustee
  2. A beneficiary
  3. An administrator
  4. A personal obligation

Answer(s): C






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