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Free GLO_CWM_LVL_1 Exam Braindumps (page: 34)

Page 33 of 266
PDF with 1057 Questions

What is burn Arbun?

  1. Loan of a particular piece of property
  2. Credit sale
  3. Down payment
  4. Deposits in trust

Answer(s): C



No society shall be dissolved unless .....................of the member shall have expressed a will for dissolution by their other

  1. One fifth
  2. Two fifth
  3. Three fifth
  4. All the members

Answer(s): C



X Ltd. has failed to remit the tax deducted at source from annual rent of Rs. 6,60,000 paid to Mr. A for its office building. Said rent is --

  1. fully allowable as a business expenditure;
  2. not allowable in view of Section 40(a)(I);
  3. allowable to the extent of 50%;
  4. none of the above.

Answer(s): B



The legal heir of the deceased who receives family pension is allowed a standard deduction from such family pension received to the extent of:

  1. 1/3rd of such pension subject to maximum of Rs. 20,000
  2. 1/3rd of such pension or Rs. 15,000 whichever is less
  3. 1/3rd of such pension or Rs. 12,000 whichever is less
  4. 1/3rd of such pension or Rs. 12,500 whichever is less

Answer(s): B






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