Tuesday, November 25, 2008

Taxation - 12

Select The Blank
Question For an individual as a citizen of India who leaves India in the
relevant previous year for the purpose of employment has to be in India for
________ days or more during previous year.
Correct Answer 182
Your Answer 182
Multiple Choice Single Answer
Question The due date prescribed for filing the returns of income in Form
No. 2C is
Correct Answer 31st October of the respective Assessment year
Your Answer 31st October of the respective Previous year
Multiple Choice Single Answer
Question The payments for claiming the rebate u/s 88 should :-
Correct Answer Be made out of the income chargeable to tax.
Your Answer Be made out of the income chargeable to tax.
Multiple Choice Single Answer
Question As per which provision and section, every person, company or any
other person shall furnish his returns of income in the prescribed form on or
before the specified due date?
Correct Answer Section 139(1)
Your Answer Section 139(1)
Select The Blank
Question Mrs. X of 45 years has received salary of Rs 5,50,000 she can
claim tax rebate of ________u/s 88C of the IT Act.
Correct Answer Rs. 5,000
Your Answer Nil
Multiple Choice Multiple Answer
Question Rebate is allowed on any subscription made to National Saving
Scheme by :-
Correct Answer An individual , A HUF
Your Answer An individual , A HUF , Partnership Firms
Multiple Choice Multiple Answer
Question For the purpose of taxability of perquisite a specified employee
means :-
Correct Answer The person who is director of a company , The employee
who has substantial interest in the company by having 20% or more of the
voting power , The employee whose income under the head salaries (including
all the taxable monetary payments of salary but excluding the value of any nonmonetary
benefits or perquisites), after allowing deductions under Section 16,
exceeds Rs. 50,000
Your Answer The person who is director of a company , The employee who
has substantial interest in the company by having 20% or more of the voting
power , The employee whose income under the head salaries (including all the
taxable monetary payments of salary but excluding the value of any nonmonetary
benefits or perquisites), after allowing deductions under Section 16,
exceeds Rs. 50,000
Multiple Choice Multiple Answer
Question Following professional institutions have their incomes exempt from
tax :-
Correct Answer Town planning , Company secretary , Accounting
Your Answer Town planning , Company secretary , Accounting
True/False
Question Deduction u/s 80E for repayment of loan taken for higher
education is available if the loan must have borrowed by the assessee himself
or his Father
Correct Answer False
Your Answer False
True/False
Question The consideration for transfer of Capital Asset is received by the
transferor is not material while Capital gain chargeable to tax.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Any loans or deposits borrowed or repaid under section 269SS of
the Act provides that the said provisions will not apply to the loans or deposits
accepted by :-
Correct Answer Banking company including cooperative bank and post
office savings bank , Government , Government company
Your Answer Government , Government company , Banking company
including cooperative bank and post office savings bank
Match The Following
Question Correct Answer Your Answer
Employee stock option plan ESOPS ESOPS
Uncommuted Pension Indicates the periodical payment of pension
Indicates the periodical payment of pension
Commuted Pension Indicates the lump sum received in lieu of the
periodical Indicates the lump sum received in lieu of the periodical
Treatment of Perquisite Taxed in the hands of employee as taxable salary
Taxed in the hands of employee as taxable salary
True/False
Question A person who is a Senior Citizen who has attained the age of 65
years is not entitled to the rebate u/s 88 of the Act.
Correct Answer False
Your Answer True
Multiple Choice Multiple Answer
Question For Deduction u/s 54EC from Capital Gains the assessee should
invest the whole or part of the capital gains in the specified assets :-
Correct Answer Within six months from the date of transfer of the long-term
capital asset
Your Answer Within six months from the date of transfer of the long-term
capital asset
Select The Blank
Question Unabsorbed business loss can carried forward and set off in the
subsequent Assessment Years subject to the time limit of ________
Assessment years.
Correct Answer 8
Your Answer 3
Multiple Choice Single Answer
Question Mr. A whose Gross Total Income, before allowing deductions
under Chapter VI-A is Rs. 2,40,000 wants to make the investments in the
following alternative forms Rs. 50,000 in PPF and Rs. 50,000 in Infrastructure
Bonds. The amount of rebate available to him u/s 88 is :-
Correct Answer Rs. 15,000
Your Answer Rs. 15,000
Multiple Choice Single Answer
Question Annual value of any one palace in possession of a former ruler is :-
Correct Answer Exempt
Your Answer Exempt
Match The Following
Question Correct Answer Your Answer
Any subscription made to National Saving Scheme
By an individual or a HUF is eligible for rebate u/s 88 By an individual or a
HUF is eligible for rebate u/s 88
Mr. A, a 70 years old Senior Citizen, has the Gross Total Income of Rs.
2,50,000 during the Assessment Year 2005-2006. He invested Rs. 50,000 in the
tax saving bonds of ICICI on 10th June 2004. His tax liability for the A Y
2005-2006.
RS.12,500 RS.12,500
During the Assessment Year 2005-2006, Mrs. A, age 58 years, has the Gross
Total Income of Rs. 1,45,000 including the dividend from Indian companies
amounting to Rs. 10,000. She invests Rs. 50,000 in PPF during the said
Assessment Year. her tax liabilit is
Rs. 1,000 Rs. 1,000
Any contribution made to a Public Provident Fund
Is eligible for rebate u/s 88 Is eligible for rebate u/s 88
Select The Blank
Question To claim sec 10A deduction unit must be established in ________.
Correct Answer Free Trade Zone
Your Answer Free Trade Zone
Select The Blank
Question Non resident individual satisfies ________ of the basic conditions.
Correct Answer None
Your Answer Any one
Multiple Choice Single Answer
Question Deduction from Capital Gains under Section 54 is for Capital
Gains arising from transfer of :-
Correct Answer House Property
Your Answer House Property
Select The Blank
Question Deduction for remuneration from foreign sources for professors,
teachers etc under Section 80R is limited to ________% of such remuneration
brought in India.
Correct Answer 15
Your Answer 15
Select The Blank
Question Relief under section 89 is available to an employee in respect of the
amount of salary received ________.
Correct Answer In advance or in arrears
Your Answer In the immediately succeeding year.
Select The Blank
Question AOP id formed when two or more ________ come together to earn
income.
Correct Answer Persons
Your Answer Persons
Multiple Choice Multiple Answer
Question Capital Gains arise on account of excess of transfer consideration
over the following amounts
Correct Answer Cost of acquisition , Cost of improvement , Expenditure
incurred wholly and exclusively in connection with the transfer
Your Answer Cost of acquisition , Cost of improvement , Expenditure
incurred wholly and exclusively in connection with the transfer
Multiple Choice Multiple Answer
Question Which of the following amounts credited to P & L Account but not
taxable from Income tax Purposes as Profits from Business and Profession?
Correct Answer Refund of Income tax , Capital Gains , Dividend Income
Your Answer Refund of Income tax , Capital Gains , Dividend Income
True/False
Question Rebates as per the provisions of Section 88 of the Act are not
available from the tax on long-term capital gains.
Correct Answer True
Your Answer True
Select The Blank
Question If assessee owns more than one house properties, he can get benefit
of nil annual value for any one house property ________.
Correct Answer As per his choice
Your Answer As per his choice
Multiple Choice Single Answer
Question What is the treatment of principal amount of loan borrowed for the
purchase or construction of a residential house?
Correct Answer Rebate u/s 88 for such amount not exceeding Rs. 20,000
Your Answer Rebate u/s 88 for such amount not exceeding Rs. 20,000
Multiple Choice Multiple Answer
Question The provisions for payment of gratuity is not allowed under section
40A(7) but, under the head, profits from business and profession, the amount of
gratuity will be allowed as deduction only when :-
Correct Answer The amount of gratuity has actually become payable to the
employees during the previous year , The provision has been made for the
payment of a sum by way of contribution to an approval gratuity , The other
than the above two situations, any provision made for the payment of gratuity is
not allowed as deduction
Your Answer The amount of gratuity has actually become payable to the
employees during the previous year , The provision has been made for the
payment of a sum by way of contribution to an approval gratuity
Multiple Choice Multiple Answer
Question If the Salary is less than Rs. 5,00,000, Standard Deduction will be
the least of the following :-
Correct Answer 40% of the Salary , Rs. 30,000
Your Answer 40% of the Salary , Rs. 30,000
Multiple Choice Single Answer
Question The amount of advance tax payable by non corporate assessees
before 15th December of Previous year is :-
Correct Answer 60% of advance tax payable
Your Answer 100% of advance tax payable
Select The Blank
Question It should be noted that the tax liability of an individual having the
total income of less than Rs ________ is Nil u/s 88D.
Correct Answer 1,00,000
Your Answer 1,00,000
True/False
Question If assessee owns more than one house properties, annual value of
any one of the house property can be treated as nil, and such option can be
changed year on year basis.
Correct Answer True
Your Answer True
True/False
Question Income from subletting is treated as income from house property.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question Following persons are deemed to be an assessee :-
Correct Answer Legal heir of deceased person , Parents of minor assessee ,
Agent of NRI
Your Answer Legal heir of deceased person , Parents of minor assessee ,
Agent of NRI
Multiple Choice Single Answer
Question Income of notified news agencies is exempt provided :-
Correct Answer They apply their income for collection & distribution of
news
Your Answer They apply their income for collection & distribution of news
Select The Blank
Question The rebate u/s 88B is available to an individual who has attained
the age of ________ or more at any time during the previous year.
Correct Answer 65
Your Answer 65
Multiple Choice Multiple Answer
Question What is the tax treatment of the Lump sum received from
unrecognized provident fund on the retirement or resignation or death of the
employee?
Correct Answer Employee's contribution to PF is exempt from tax , Interest
on employee's contribution is taxable as "Income from Other Sources" ,
Employer's Contribution to PF and interest thereon is taxable as "Income from
salaries"
Your Answer Employee's contribution to PF is exempt from tax , Interest on
employee's contribution is taxable as "Income from Other Sources" ,
Employer's Contribution to PF and interest thereon is taxable as "Income from
salaries"
True/False
Question Any advance tax paid before 31st March is treated as advance tax
paid during the previous year.
Correct Answer True
Your Answer True
True/False
Question A woman assessee below the age of 65 years is also entitled to
rebate u/s 88.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Rent for other amenities like lift, electricity, telephone etc. is taxed
under the heading :-
Correct Answer Income from other sources
Your Answer Income from salaries
Multiple Choice Single Answer
Question The amount of advance tax payable by non corporate assessees
before 15th June of Previous year is :-
Correct Answer Nil
Your Answer 100% of advance tax payable
Multiple Choice Multiple Answer
Question The entertainment allowance received by the Government
employees is included in their salaries and the deduction is allowed to the
extent of least of the following amounts :-
Correct Answer Rs. 5,000 , 1/5th of Salary , Actual amount of Entertainment
Allowance received.
Your Answer Rs. 5,000 , 1/5th of Salary , Actual amount of Entertainment
Allowance received.
True/False
Question Loss from house property can be adjusted against the income from
any other house property.
Correct Answer True
Your Answer True
True/False
Question Annual premium paid by the employer for the accident insurance
policy taken by the employer in the name of the employee is chargeable to tax.
Correct Answer False
Your Answer True
Multiple Choice Single Answer
Question Annual return for TDS from Salaries is to be filed in :-
Correct Answer Form No. 24
Your Answer Form No. 24

Taxation - 11

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Select The Blank
Question Monetory Limit for deduction for royalty income of authors under Section
80QQB is Rs.________.
Correct Answer 300000
Your Answer 300000
Multiple Choice Single Answer
Question Income from winning from lotteries / crossword puzzles/ horse races is
taxed at flat rate of :-
Correct Answer 0.3
Your Answer 0.3
Multiple Choice Single Answer
Question Income earned in previous year is subjected to tax in :-
Correct Answer Assessment year
Your Answer Assessment year
Multiple Choice Single Answer
Question Mediclaim premium u/s Section 80D should be paid by
Correct Answer Cheque
Your Answer Cheque or Cash
True/False
Question Any sum payable by the assessee by way of tax, duty, cess or fee is
allowed as deduction even though they are not actually paid.
Correct Answer False
Your Answer True
True/False
Question As per section 2(11) of the Income Tax Act, Block of Assets includes both
tangible as well as intangible assets.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question What is the tax treatment of Statutory Provident Fund?
Correct Answer Employer's Contribution to PF is not liable for any tax payment ,
Interest credited to the employee's account is not liable for any tax payment. , The lump
sum received at the time of retirement or resignation or death is also exempt under
section 10(11) and 10(12).
Your Answer Employer's Contribution to PF is not liable for any tax payment ,
Interest credited to the employee's account is not liable for any tax payment. , The lump
sum received at the time of retirement or resignation or death is also exempt under
section 10(11) and 10(12).
Select The Blank
Question The aggregate amount of all the expenditure falling under the head
preliminary expenses incurred under section 3________, for an Indian company the
aggregate of all the expenditure can be 5% of the cost of project or 5% of capital
employed whichever is higher.
Correct Answer 5% of the cost of project or 5% of capital employed
Your Answer 5% of the cost of project or 7% of capital employed
Multiple Choice Single Answer
Question Combined total of five heads of income equals :-
Correct Answer Gross total income
Your Answer Gross total income
Multiple Choice Single Answer
Question Previous year always ends on :-
Correct Answer 31st March
Your Answer 31st March
Multiple Choice Single Answer
Question Rates of income tax are prescribed by :-
Correct Answer The Finance Act
Your Answer Ordinance
Select The Blank
Question If assessee owns more than one house properties, he can get benefit of nil
annual value for any one house property ________.
Correct Answer As per his choice
Your Answer House which is first purchased
Multiple Choice Single Answer
Question Tax liability of a person is based on :-
Correct Answer Residential status
Your Answer Gross total income
Multiple Choice Multiple Answer
Question Choose capital expenditure from the following list :-
Correct Answer Purchase of Building , Purchase of machinery
Your Answer Purchase of Building , Construction of temporary structures ,
Purchase of machinery
Multiple Choice Multiple Answer
Question Rebate is allowed on any subscription made to National Saving Scheme
by :-
Correct Answer An individual , A HUF
Your Answer An individual , A HUF
Multiple Choice Single Answer
Question In respect of leave travel concession If Mr. A has availed the exemption
only once or has not availed any exemption at all, in the block of four years i.e. 1998-
2001 then :-
Correct Answer He can carry over the exemption to the next block of four years i.e.
2002-2005 provided that he avails the exemption of LTC in the first calendar year of the
next block i.e. 2002.
Your Answer He can carry over the exemption to the next block of four years i.e.
2002-2005 provided that he avails the exemption of LTC in the first calendar year of the
next block i.e. 2002.
True/False
Question Loss under the head Profits from Business or Profession can be adjusted
against the Income from Salaries.
Correct Answer False
Your Answer False
Multiple Choice Single Answer
Question The amount paid by the employer to the employee on his retirement is
taxed as :-
Correct Answer Income from Salaries
Your Answer Income from Salaries
Select The Blank
Question For an individual as a citizen of India who leaves India in the relevant
previous year for the purpose of employment has to be in India for ________ days or
more during previous year.
Correct Answer 182
Your Answer 182
True/False
Question Bad Debts recovered not allowed as deduction in earlier years is not
taxable in any year.
Correct Answer True
Your Answer False
Multiple Choice Multiple Answer
Question Short Term Capital Loss can be adjusted against :-
Correct Answer Short Term Capital Gains. , Long term Capital Gains
Your Answer Long term Capital Gains , Short Term Capital Gains.
Multiple Choice Single Answer
Question The amount of advance tax payable by non corporate assessees before
15th March of Previous year is :-
Correct Answer 100% of advance tax payable
Your Answer 100% of advance tax payable
Multiple Choice Multiple Answer
Question An assessee can claim deduction under section 35 in relation to the
expenditure incurred on scientific research in the field of natural gas or applied sciences
if :-
Correct Answer Any revenue expenses incurred by the assessee for carrying out the
scientific research provided that such research is related to his business , Any capital
expenses incurred by the assesse himself for carrying out the scientific research provided
that such research is related to his business , The assesse is a company engaged in the
business of bio-technology or any other notified product a weighted deduction of 150% is
allowed in respect of in-house research and development expensed, till 31st March, 2005
Your Answer Any revenue expenses incurred by the assessee for carrying out the
scientific research provided that such research is related to his business , The assesse is a
company engaged in the business of bio-technology or any other notified product a
weighted deduction of 150% is allowed in respect of in-house research and development
expensed, till 31st March, 2005
Select The Blank
Question Registration charges in connection with the increasing of ________ share
capital of the company is not allowed as revenue expenditure.
Correct Answer Authorized
Your Answer Issued
True/False
Question If a person is required to quote the PAN and he quotes or intimates a false
number then he may be liable to pay a penalty of Rs. 25000.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question What is the tax treatment of the Lump sum received from unrecognized
provident fund on the retirement or resignation or death of the employee?
Correct Answer Employee's contribution to PF is exempt from tax , Interest on
employee's contribution is taxable as "Income from Other Sources" , Employer's
Contribution to PF and interest thereon is taxable as "Income from salaries"
Your Answer Employee's contribution to PF is exempt from tax , Interest on
employee's contribution is taxable as "Income from Other Sources"
Select The Blank
Question If the person responsible for deducting the tax at source and paying the
same to the credit of Central Government has not been allotted the Tax Deduction
Account Number (TAN), he shall within ________ from the end of the month in which
the tax was deducted, apply for the allotment of TAN Number.
Correct Answer One month
Your Answer Fifteen days
Match The Following
Question Correct Answer Your Answer
Deduction in case of permanent physical disability Section 80U Section 80U
Deductions for Donations Paid Section 80G Section 80G
Deduction for Rent Paid Section 80GG Section 80GG
Deduction in respect of Interest on Bank Deposits Section 80L Section 80L
True/False
Question If the capital asset becomes the property of the assessee by virtue of gift or
will, the period for which the capital asset is held by the previous owner should be
excluded while deciding the holding period.
Correct Answer False
Your Answer True
True/False
Question Amount paid by the employer in respect of any leave standing to the credit
of the employee after the date of furnishing return of income, this sum was payable in the
previous year is allowed as deduction.
Correct Answer False
Your Answer False
Select The Blank
Question Under section 43B, Clause N0-21 provides that the details of various
payments are allowed as deductions only if they are actually paid but, where if the
assessee follows the ________, the payments can be claimed on due basis.
Correct Answer Mercantile system of accounting
Your Answer Cash system of accounting
True/False
Question A woman assessee below the age of 65 years is also entitled to rebate u/s
88.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Income received by following assesses is taxable in India :-
Correct Answer Resident , Non resident , Resident but not ordinary resident
Your Answer Resident , Resident but not ordinary resident
Multiple Choice Single Answer
Question Any premium paid by the assessee by Cheque as an employer to effect or
keep in force an insurance on the health of his employees is :-
Correct Answer Allowed as expenses while calculating profits from business and
profession
Your Answer Is allowed as a deduction under Section 80G
Select The Blank
Question Where an assessee files or submits the returns as per provisions of section
139 or in response to the notice under section 142, the assessment officer undertakes
________ as per section 143(2) and section 143(3).
Correct Answer Scrutiny Assessment
Your Answer Scrutiny Assessment
Multiple Choice Multiple Answer
Question Assessee gets deduction of interest paid on borrowed capital even if he :-
Correct Answer Takes possession later on , Acquires later on
Your Answer Takes possession later on , Acquires later on
Match The Following
Question Correct Answer Your Answer
Perquisites Indicate benefits or amenities provided by the employer to the employee,
either free of cost or at the concessional rate Indicate benefits or amenities provided by
the employer to the employee, either free of cost or at the concessional rate
House Rent Allowance This indicates the amount paid by the employer to the
employee to meet the expenditure for residential accommodation occupied by the
employee This indicates the amount paid by the employer to the employee to meet
the expenditure for residential accommodation occupied by the employee
Retrenchment Compensation Compensation received by a worker at the time of
retrenchment Compensation received by a worker at the time of retrenchment
Traveling Allowance Any allowance granted to meet the cost of travel on tour or on
transfer of duty. Any allowance granted to meet the cost of travel on tour or on
transfer of duty.
Select The Blank
Question Mrs. X of 45 years has received salary of Rs 5,50,000 she can claim tax
rebate of ________u/s 88C of the IT Act.
Correct Answer Rs. 5,000
Your Answer Rs. 20,000
Multiple Choice Single Answer
Question Assessment year is the period of 12 months starting from :-
Correct Answer 1st April to 31st March
Your Answer 1st April to 31st March
Multiple Choice Single Answer
Question If notified news agency distributes its income amongst its members then :-
Correct Answer Whole of its income will be taxable
Your Answer It will have to pay tax on distributed profits
Multiple Choice Single Answer
Question Deduction in respect of Contribution to certain pension funds u/s 80CCC
is available to :-
Correct Answer Individuals
Your Answer Individuals
True/False
Question Income from subletting is treated as income from house property.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question In case of Payment of Interest on Securities no tax is required to be
deducted under the following circumstances :-
Correct Answer If the debentures are issued by a widely held company and the
debentures are listed on a stock exchange and if the amount of interest does not exceed
Rs. 2,500 during the financial year. , If the interest paid is on State or Central
Government Securities, If the debentures are issued by an institution, authority, Public
Sector Company or cooperative society as the Central Government may notify.
Your Answer If the interest paid is on State or Central Government Securities , If
the debentures are issued by a widely held company and the debentures are listed on a
stock exchange and if the amount of interest does not exceed Rs.5,000 during the
financial year.
Select The Blank
Question Expenditure incurred by an assessee on advertisement in any brochure,
tract, pamphlet or like published by a ________shall not be allowed as business
expenditure.
Correct Answer Political party
Your Answer Company

Taxation - 10

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Multiple Choice Single Answer
Question Foreign allowance received by an Indian national is exempt if it is paid by
:-
Correct Answer Government of India
Your Answer Government of India
Multiple Choice Multiple Answer
Question For the purpose of section 80IA, the term eligible business means :-
Correct Answer Developing, maintaining or operating any infrastructure facility
where the term infrastructure facility means a road (including a toll road, a bridge or a
rail system) or a highway project or a water supply project. , Developing, maintaining or
operating an industrial park or special economic zones notified by the Central
Government , Generation or distribution of power
Your Answer Developing, maintaining or operating an industrial park or special
economic zones notified by the Central Government , Generation or distribution of power
, Developing, maintaining or operating any infrastructure facility where the term
infrastructure facility means a road (including a toll road, a bridge or a rail system) or a
highway project or a water supply project.
True/False
Question For being resident of India, a person must be citizen of India.
Correct Answer False
Your Answer False
Multiple Choice Single Answer
Question The due date prescribed for filing the returns of income in Form No. 2C is
Correct Answer 31st October of the respective Assessment year
Your Answer 31st October of the respective Assessment year
Multiple Choice Single Answer
Question The amount of accumulated interest on NSCs purchased in the earlier
years is assumed to be reinvested :-
Correct Answer And qualifies for tax rebate under section 88.
Your Answer And qualifies for tax rebate under section 88.
True/False
Question A person who is a Senior Citizen who has attained the age of 65 years is
not entitled to the rebate u/s 88 of the Act.
Correct Answer False
Your Answer False
Multiple Choice Single Answer
Question The total amount of rebates under Section 88, Section 88B, Section 88C
and Section 88D of the Act. shall :-
Correct Answer Not exceed the amount of tax calculated on the total income.
Your Answer Not exceed the amount of tax calculated on the total income.
True/False
Question A company is resident of India if in any previous year it is an Indian
Company even though control & management are situated outside India.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question From GTI of a company following deductions under chapter VI A are
allowed
Correct Answer 80 G Donations , 80 HHB profits and gains from projects outside
India , 80 IA profits and gains of infrastructure companies
Your Answer 80 G Donations , 80 HHB profits and gains from projects outside
India , 80 IA profits and gains of infrastructure companies
True/False
Question Clause N0-30 of the Tax Audit requires that, if the cost Audit of the
company carried out, the report of such audit should be enclosed to the Tax Audit Report.
Correct Answer True
Your Answer True
Match The Following
Question Correct Answer Your Answer
Deductions of Rent, Rates, Repairs, Taxes and Insurance on Buildings are available
u/s 30 u/s 30
Deduction of Depreciation is available u/s 32 u/s 32
General deductions are allowed as deductions while calculating profits from business and
profession u/s 37 u/s 37
Deductions of Repairs & maintenance of machinery, plant & furniture are available
u/s 31 u/s 31
Multiple Choice Single Answer
Question In case of any contribution made by an individual or a HUF to notified
units of any approved mutual fund or of Unit Trust of India in accordance with a notified
scheme (Equity Linked Savings Scheme) :-
Correct Answer The maximum allowable limit is Rs. 10,000
Your Answer The maximum allowable limit is Rs. 10,000
True/False
Question The value of benefit resulting from the payment made by the employer in
a club for any expenditure incurred by the employee shall be taken as perquisites unless
the said expenses are incurred wholly and exclusively for official purposes.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question What is the treatment of principal amount of loan borrowed for the
purchase or construction of a residential house?
Correct Answer Rebate u/s 88 for such amount not exceeding Rs. 20,000
Your Answer Rebate u/s 88 for such amount not exceeding Rs. 20,000
True/False
Question Rebates as per the provisions of Section 88 of the Act are not available
from the tax on longterm capital gains.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Following specific incomes are taxable under the heading income from
other sources :-
Correct Answer Winning from betting , Interest on securities of local authority ,
Bonus from key man insurance policy
Your Answer Winning from betting , Interest on securities of local authority
True/False
Question Deductions available as per the provisions of Chapter VI of the Act are not
available for the long-term capital gains.
Correct Answer True
Your Answer True
True/False
Question Income earned & received outside India & remitted to India is taxable for
resident & ordinary resident
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question What is the due date for filing Annual return for TDS from Salaries?
Correct Answer 30th June of Assessment Year
Your Answer 30th June of Assessment Year
Multiple Choice Multiple Answer
Question The least of the following is the exemption available to an employee if he
is in receipt of house rent allowance :-
Correct Answer 50% of the Salary where such accommodation is situated in
Mumbai, Kolkata, Chennai and Delhi and 40% of the Salary when the accommodation is
situated at any other place. , Actual amount of HRA received by the employee. , Excess
of rent paid over 10% of the Salary.
Your Answer 50% of the Salary where such accommodation is situated in
Mumbai, Kolkata, Chennai and Delhi and 40% of the Salary when the accommodation is
situated at any other place. , Actual amount of HRA received by the employee.
Select The Blank
Question If the CC of the engine is more than 1..6 liters and the motor car is owned
or hired by the employer and is used partly of official and partly for personal purposes
and if running and maintenance expenses are borne by the employee then the value of
perquisite will be Rs.________ per month plus Rs.600 if car is chauffer driven car.
Correct Answer 600
Your Answer 600
Multiple Choice Single Answer
Question As a general principle, the Basic Salary or Wages, Dearness Allowance
and Bonus / Commission is :-
Correct Answer Fully taxable.
Your Answer Fully taxable.
Multiple Choice Multiple Answer
Question Under the clause No-32 of the Act, in the Tax Audit Report, the Auditor is
required to give the accounting calculation in ratios of :-
Correct Answer Gross profit/turnover , Net profit/turnover , Stock in trade/turnover
Your Answer Gross profit/turnover , Net profit/turnover , Stock in trade/turnover
Multiple Choice Single Answer
Question If taxable income is less than 7.5% of book profit, income tax is payable
@ of :-
Correct Answer 0.1
Your Answer 0.1
Select The Blank
Question In case of foreign companies rate of tax is ________.
Correct Answer 0.35
Your Answer 0.2
True/False
Question Interest is payable by the assessee for not paying the Advance tax or if the
Advance tax paid by the assessee is less than 80% of the Assessed tax after adjusting the
amount of TDS and Advance tax Paid
Correct Answer False
Your Answer True
Multiple Choice Multiple Answer
Question For the purpose of income tax, the perquisites can be classified into :-
Correct Answer Perquisites which are taxable in case of all types of employees ,
Perquisites which are taxable only in the hands of specified employee
Your Answer Perquisites which are taxable in case of all types of employees ,
Perquisites which are taxable only in the hands of specified employee
Multiple Choice Single Answer
Question Loss from owning and maintaining race horses can be adjusted against :-
Correct Answer Only the income arising out of the same activity
Your Answer Only the income arising out of the same activity
Multiple Choice Single Answer
Question Municipal taxes are payable on :-
Correct Answer Municipal valuation
Your Answer Municipal valuation
True/False
Question Dividend received from domestic company to its shareholders is taxable in
the hands of the shareholder.
Correct Answer False
Your Answer False
Select The Blank
Question Company means any ________ Company.
Correct Answer Indian
Your Answer Domestic Company
Multiple Choice Multiple Answer
Question Section 35D applies to the preliminary expenses incurred by a company,
which consists of :-
Correct Answer Expenditure in connection with the preparation of
feasibility/project report, engineering services, or conducting market survey , Legal
charges and fees for registering the company as per the provisions of company Act, 1956
, Charges in connection with drafting and printing of memorandum of association and
Articles of Association
Your Answer Expenditure in connection with the preparation of
feasibility/project report, engineering services, or conducting market survey , Legal
charges and fees for registering the company as per the provisions of company Act, 1956
, Charges in connection with drafting and printing of memorandum of association and
Articles of Association
Multiple Choice Multiple Answer
Question Perquisites which are taxable only in the hands of specified employee
include the following categories of perquisites :-
Correct Answer Motor Car , Services of sweeper, gardener, watchman or personal
attendant , Gas, electricity and water provided for personal consumption
Your Answer Motor Car , Gas, electricity and water provided for personal
consumption , Amount spent on training of employees or fees paid for refresher
management course
Select The Blank
Question Loss under the head Income from Capital Gains, to the extent it is long
term capital loss can be carried forward and set off in the subsequent Assessment Years
against the ________ subject to the limit of 8 Assessment years.
Correct Answer Long term Capital Gains
Your Answer Long term Capital Gains
Multiple Choice Single Answer
Question For charging the income in the form of salaries :-
Correct Answer There needs to be an employer-employee relationship between the
payer and the payee.
Your Answer There needs to be an employer-employee relationship between the
payer and the payee.
True/False
Question The amount of telephone bills (including the mobile phone bills) of the
employee reimbursed by the employer is exempt from tax.
Correct Answer True
Your Answer True
True/False
Question The amount of expenses including membership fees and annual fees
incurred by the employee on credit card and which are paid by the employer shall be
added as the perquisites unless the said expenses are incurred wholly and exclusively for
official purposes.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question The amount of advance tax payable by corporate assessees before 15th
September of Previous year is :-
Correct Answer 45% of advance tax payable
Your Answer 45% of advance tax payable
Multiple Choice Single Answer
Question As per which provision and section, every person, company or any other
person shall furnish his returns of income in the prescribed form on or before the
specified due date?
Correct Answer Section 139(1)
Your Answer Section 139(1)
Select The Blank
Question ________ is the tax payable on the manufacturing of goods.
Correct Answer Excise duty
Your Answer Sales tax
Multiple Choice Single Answer
Question The return of income is required to be filed by all the companies, except
those covered under section 25 of the companies Act,1956 in the :-
Correct Answer Form No. 1
Your Answer Form No. 1
Match The Following
Question Correct Answer Your Answer
Disallowable Expenditure Litigation Expenses in connection with recovery of a debt
which is not a trading debt Litigation Expenses in connection with recovery of a debt
which is not a trading debt
Business Includes trade, commerce, or manufacture or any adventure or concern in
the nature of trade, commerce or manufacture Includes trade, commerce, or
manufacture or any adventure or concern in the nature of trade, commerce or
manufacture
Profession Includes vocation Includes vocation
Capital Expenditure Expenditure incurred by a company with the issue of rights shares
Expenditure incurred by a company with the issue of rights shares
Multiple Choice Single Answer
Question The sum total of all the heads of income clubbed together gives the
amount of :-
Correct Answer Gross Total Income
Your Answer Gross Total Income
Select The Blank
Question Short term Capital Gains is taxed at ________.
Correct Answer Normal Tax rates
Your Answer Normal Tax rates
Multiple Choice Multiple Answer
Question From annual value, following deductions are allowed :-
Correct Answer Standard deduction , Interest on borrowed capital , Municipal taxes
Your Answer Standard deduction , Interest on borrowed capital , Municipal taxes
Multiple Choice Multiple Answer
Question The rebate u/s 88 is available to an :-
Correct Answer Individual , Hindu Undivided Family.
Your Answer Individual , Hindu Undivided Family.
Taxation-Saroj2
Select The Blank
Question For an individual as a citizen of India who leaves India in the relevant
previous year for the purpose of employment has to be in India for ________ days or
more during previous year.
Correct Answer 182
Your Answer 182
Multiple Choice Single Answer
Question The due date prescribed for filing the returns of income in Form No. 2C is
Correct Answer 31st October of the respective Assessment year
Your Answer 31st October of the respective Previous year
Multiple Choice Single Answer
Question The payments for claiming the rebate u/s 88 should :-
Correct Answer Be made out of the income chargeable to tax.
Your Answer Be made out of the income chargeable to tax.
Multiple Choice Single Answer
Question As per which provision and section, every person, company or any other
person shall furnish his returns of income in the prescribed form on or before the
specified due date?
Correct Answer Section 139(1)
Your Answer Section 139(1)
Select The Blank
Question Mrs. X of 45 years has received salary of Rs 5,50,000 she can claim tax
rebate of ________u/s 88C of the IT Act.
Correct Answer Rs. 5,000
Your Answer Nil
Multiple Choice Multiple Answer
Question Rebate is allowed on any subscription made to National Saving Scheme by :-
Correct Answer An individual , A HUF
Your Answer An individual , A HUF , Partnership Firms
Multiple Choice Multiple Answer
Question For the purpose of taxability of perquisite a specified employee means :-
Correct Answer The person who is director of a company , The employee who has
substantial interest in the company by having 20% or more of the voting power , The
employee whose income under the head salaries (including all the taxable monetary
payments of salary but excluding the value of any non-monetary benefits or perquisites),
after allowing deductions under Section 16, exceeds Rs. 50,000
Your Answer The person who is director of a company , The employee who has
substantial interest in the company by having 20% or more of the voting power , The
employee whose income under the head salaries (including all the taxable monetary
payments of salary but excluding the value of any non-monetary benefits or perquisites),
after allowing deductions under Section 16, exceeds Rs. 50,000
Multiple Choice Multiple Answer
Question Following professional institutions have their incomes exempt from tax :-
Correct Answer Town planning , Company secretary , Accounting
Your Answer Town planning , Company secretary , Accounting
True/False
Question Deduction u/s 80E for repayment of loan taken for higher education is
available if the loan must have borrowed by the assessee himself or his Father
Correct Answer False
Your Answer False
True/False
Question The consideration for transfer of Capital Asset is received by the transferor is
not material while Capital gain chargeable to tax.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Any loans or deposits borrowed or repaid under section 269SS of the Act
provides that the said provisions will not apply to the loans or deposits accepted by :-
Correct Answer Banking company including cooperative bank and post office savings
bank , Government , Government company
Your Answer Government , Government company , Banking company including
cooperative bank and post office savings bank
Match The Following
Question Correct Answer Your Answer
Employee stock option plan ESOPS ESOPS
Uncommuted Pension Indicates the periodical payment of pension Indicates the
periodical payment of pension
Commuted Pension Indicates the lump sum received in lieu of the periodical
Indicates the lump sum received in lieu of the periodical
Treatment of Perquisite Taxed in the hands of employee as taxable salary Taxed in
the hands of employee as taxable salary
True/False
Question A person who is a Senior Citizen who has attained the age of 65 years is not
entitled to the rebate u/s 88 of the Act.
Correct Answer False
Your Answer True
Multiple Choice Multiple Answer
Question For Deduction u/s 54EC from Capital Gains the assessee should invest the
whole or part of the capital gains in the specified assets :-
Correct Answer Within six months from the date of transfer of the long-term capital
asset
Your Answer Within six months from the date of transfer of the long-term capital asset
Select The Blank
Question Unabsorbed business loss can carried forward and set off in the subsequent
Assessment Years subject to the time limit of ________ Assessment years.
Correct Answer 8
Your Answer 3
Multiple Choice Single Answer
Question Mr. A whose Gross Total Income, before allowing deductions under Chapter
VI-A is Rs. 2,40,000 wants to make the investments in the following alternative forms
Rs. 50,000 in PPF and Rs. 50,000 in Infrastructure Bonds. The amount of rebate available
to him u/s 88 is :-
Correct Answer Rs. 15,000
Your Answer Rs. 15,000
Multiple Choice Single Answer
Question Annual value of any one palace in possession of a former ruler is :-
Correct Answer Exempt
Your Answer Exempt
Match The Following
Question Correct Answer Your Answer
Any subscription made to National Saving Scheme
By an individual or a HUF is eligible for rebate u/s 88 By an individual or a HUF is
eligible for rebate u/s 88
Mr. A, a 70 years old Senior Citizen, has the Gross Total Income of Rs. 2,50,000 during
the Assessment Year 2005-2006. He invested Rs. 50,000 in the tax saving bonds of ICICI
on 10th June 2004. His tax liability for the A Y 2005-2006.
RS.12,500 RS.12,500
During the Assessment Year 2005-2006, Mrs. A, age 58 years, has the Gross Total
Income of Rs. 1,45,000 including the dividend from Indian companies amounting to Rs.
10,000. She invests Rs. 50,000 in PPF during the said Assessment Year. her tax liabilit is
Rs. 1,000 Rs. 1,000
Any contribution made to a Public Provident Fund
Is eligible for rebate u/s 88 Is eligible for rebate u/s 88
Select The Blank
Question To claim sec 10A deduction unit must be established in ________.
Correct Answer Free Trade Zone
Your Answer Free Trade Zone
Select The Blank
Question Non resident individual satisfies ________ of the basic conditions.
Correct Answer None
Your Answer Any one
Multiple Choice Single Answer
Question Deduction from Capital Gains under Section 54 is for Capital Gains arising
from transfer of :-
Correct Answer House Property
Your Answer House Property
Select The Blank
Question Deduction for remuneration from foreign sources for professors, teachers etc
under Section 80R is limited to ________% of such remuneration brought in India.
Correct Answer 15
Your Answer 15
Select The Blank
Question Relief under section 89 is available to an employee in respect of the amount
of salary received ________.
Correct Answer In advance or in arrears
Your Answer In the immediately succeeding year.
Select The Blank
Question AOP id formed when two or more ________ come together to earn income.
Correct Answer Persons
Your Answer Persons
Multiple Choice Multiple Answer
Question Capital Gains arise on account of excess of transfer consideration over the
following amounts
Correct Answer Cost of acquisition , Cost of improvement , Expenditure incurred
wholly and exclusively in connection with the transfer
Your Answer Cost of acquisition , Cost of improvement , Expenditure incurred wholly
and exclusively in connection with the transfer
Multiple Choice Multiple Answer
Question Which of the following amounts credited to P & L Account but not taxable
from Income tax Purposes as Profits from Business and Profession?
Correct Answer Refund of Income tax , Capital Gains , Dividend Income
Your Answer Refund of Income tax , Capital Gains , Dividend Income
True/False
Question Rebates as per the provisions of Section 88 of the Act are not available from
the tax on long-term capital gains.
Correct Answer True
Your Answer True
Select The Blank
Question If assessee owns more than one house properties, he can get benefit of nil
annual value for any one house property ________.
Correct Answer As per his choice
Your Answer As per his choice
Multiple Choice Single Answer
Question What is the treatment of principal amount of loan borrowed for the purchase
or construction of a residential house?
Correct Answer Rebate u/s 88 for such amount not exceeding Rs. 20,000
Your Answer Rebate u/s 88 for such amount not exceeding Rs. 20,000
Multiple Choice Multiple Answer
Question The provisions for payment of gratuity is not allowed under section 40A(7)
but, under the head, profits from business and profession, the amount of gratuity will be
allowed as deduction only when :-
Correct Answer The amount of gratuity has actually become payable to the employees
during the previous year , The provision has been made for the payment of a sum by way
of contribution to an approval gratuity , The other than the above two situations, any
provision made for the payment of gratuity is not allowed as deduction
Your Answer The amount of gratuity has actually become payable to the employees
during the previous year , The provision has been made for the payment of a sum by way
of contribution to an approval gratuity
Multiple Choice Multiple Answer
Question If the Salary is less than Rs. 5,00,000, Standard Deduction will be the least of
the following :-
Correct Answer 40% of the Salary , Rs. 30,000
Your Answer 40% of the Salary , Rs. 30,000
Multiple Choice Single Answer
Question The amount of advance tax payable by non corporate assessees before 15th
December of Previous year is :-
Correct Answer 60% of advance tax payable
Your Answer 100% of advance tax payable
Select The Blank
Question It should be noted that the tax liability of an individual having the total
income of less than Rs ________ is Nil u/s 88D.
Correct Answer 1,00,000
Your Answer 1,00,000
True/False
Question If assessee owns more than one house properties, annual value of any one of
the house property can be treated as nil, and such option can be changed year on year
basis.
Correct Answer True
Your Answer True
True/False
Question Income from subletting is treated as income from house property.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question Following persons are deemed to be an assessee :-
Correct Answer Legal heir of deceased person , Parents of minor assessee , Agent of
NRI
Your Answer Legal heir of deceased person , Parents of minor assessee , Agent of NRI
Multiple Choice Single Answer
Question Income of notified news agencies is exempt provided :-
Correct Answer They apply their income for collection & distribution of news
Your Answer They apply their income for collection & distribution of news
Select The Blank
Question The rebate u/s 88B is available to an individual who has attained the age of
________ or more at any time during the previous year.
Correct Answer 65
Your Answer 65
Multiple Choice Multiple Answer
Question What is the tax treatment of the Lump sum received from unrecognized
provident fund on the retirement or resignation or death of the employee?
Correct Answer Employee's contribution to PF is exempt from tax , Interest on
employee's contribution is taxable as "Income from Other Sources" , Employer's
Contribution to PF and interest thereon is taxable as "Income from salaries"
Your Answer Employee's contribution to PF is exempt from tax , Interest on
employee's contribution is taxable as "Income from Other Sources" , Employer's
Contribution to PF and interest thereon is taxable as "Income from salaries"
True/False
Question Any advance tax paid before 31st March is treated as advance tax paid during
the previous year.
Correct Answer True
Your Answer True
True/False
Question A woman assessee below the age of 65 years is also entitled to rebate u/s 88.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Rent for other amenities like lift, electricity, telephone etc. is taxed under the
heading :-
Correct Answer Income from other sources
Your Answer Income from salaries
Multiple Choice Single Answer
Question The amount of advance tax payable by non corporate assessees before 15th
June of Previous year is :-
Correct Answer Nil
Your Answer 100% of advance tax payable
Multiple Choice Multiple Answer
Question The entertainment allowance received by the Government employees is
included in their salaries and the deduction is allowed to the extent of least of the
following amounts :-
Correct Answer Rs. 5,000 , 1/5th of Salary , Actual amount of Entertainment
Allowance received.
Your Answer Rs. 5,000 , 1/5th of Salary , Actual amount of Entertainment Allowance
received.
True/False
Question Loss from house property can be adjusted against the income from any other
house property.
Correct Answer True
Your Answer True
True/False
Question Annual premium paid by the employer for the accident insurance policy
taken by the employer in the name of the employee is chargeable to tax.
Correct Answer False
Your Answer True
Multiple Choice Single Answer
Question Annual return for TDS from Salaries is to be filed in :-
Correct Answer Form No. 24
Your Answer Form No. 24

Taxation - 9

LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Multiple Choice Multiple Answer
Question The entertainment allowance received by the Government employees is
included in their salaries and the deduction is allowed to the extent of least of the
following amounts :-
Correct Answer Actual amount of Entertainment Allowance received. , Rs. 5,000 ,
1/5th of Salary
Your Answer Actual amount of Entertainment Allowance received. , Rs. 5,000 ,
1/5th of Salary
True/False
Question Income Tax Act, 1961 recognizes Written Down Value (WDV) method as
well as straight line method for the computation of depreciation u/s 32 this act.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question Profits earned by an Industrial Undertaking engaged in other than
infrastructure development is available under Section 80IB for :-
Correct Answer Operation of Ship , Hotels situated in hilly area, rural area or place
of pilgrimage , Company engaged in scientific and industrial research
Your Answer Operation of Ship , Hotels situated in hilly area, rural area or place
of pilgrimage
Multiple Choice Single Answer
Question Which of the following expenditure is in the nature of revenue
expenditure?
Correct Answer Expenditure incurred as discount on issue of debentures
Your Answer Expenditure incurred as discount on issue of debentures
Select The Blank
Question If sum received is net of TDS then it is ________ to include in income
from other sources.
Correct Answer Grossed up
Your Answer Grossed up
True/False
Question Interest paid on the loan for acquiring a capital asset will be considered to
be a part of cost of acquisition.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Mr. A whose Gross Total Income, before allowing deductions under
Chapter VI-A is Rs. 1,45,000, wants to make the investments in the following alternative
forms Rs. 80,000 in PPF and Rs. 20,000 in Infrastructure Bonds. The amount of rebate
available to him u/s 88 is :-
Correct Answer Rs. 18,000
Your Answer Rs. 18,000
Multiple Choice Single Answer
Question Interest on specified securities or premium on redemption is exempt for :-
Correct Answer Non resident Indian
Your Answer Non resident Indian
True/False
Question As per section 2(11) of the Income Tax Act, Block of Assets includes both
tangible as well as intangible assets.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Deductions in respect of Certain Incomes received under Section 80L is
available in respect of
Correct Answer Interest on Central or State Government Securities , Interest on
National Saving Certificates (NSCs) Interest on National Saving Scheme, 1992 (NSS) ,
Bank Interest
Your Answer Interest on Central or State Government Securities , Interest on
National Saving Certificates (NSCs) Interest on National Saving Scheme, 1992 (NSS) ,
Bank Interest
Multiple Choice Single Answer
Question Tax liability of a person is based on :-
Correct Answer Residential status
Your Answer Residential status
Multiple Choice Multiple Answer
Question For the purpose of income tax, the perquisites can be classified into :-
Correct Answer Perquisites which are taxable in case of all types of employees ,
Perquisites which are taxable only in the hands of specified employee
Your Answer Perquisites which are taxable in case of all types of employees ,
Perquisites which are taxable only in the hands of specified employee
Select The Blank
Question For an individual as a citizen of India who leaves India in the relevant
previous year for the purpose of employment has to be in India for ________ days or
more during previous year.
Correct Answer 182
Your Answer 182
Multiple Choice Single Answer
Question Income earned in previous year is subjected to tax in :-
Correct Answer Assessment year
Your Answer Assessment year
Multiple Choice Multiple Answer
Question Following professional institutions have their incomes exempt from tax :-
Correct Answer Town planning , Company secretary , Accounting
Your Answer Town planning , Company secretary , Accounting
Select The Blank
Question ________ of the Tax Audit Report refers to the details of various
payments which are allowed as deduction only if they are actually paid for.
Correct Answer Section 43B Clause No-21
Your Answer Section 43B Clause No-21
Multiple Choice Multiple Answer
Question Short Term Capital Loss can be adjusted against :-
Correct Answer Short Term Capital Gains. , Long term Capital Gains
Your Answer Short Term Capital Gains. , Long term Capital Gains
Select The Blank
Question To claim sec 10A deduction unit must be established in ________.
Correct Answer Free Trade Zone
Your Answer Free Trade Zone
Multiple Choice Single Answer
Question Assessment year is the period of 12 months starting from :-
Correct Answer 1st April to 31st March
Your Answer 1st April to 31st March
Multiple Choice Single Answer
Question Combined total of five heads of income equals :-
Correct Answer Gross total income
Your Answer Gross total income
Multiple Choice Single Answer
Question If an employee does not avail of this leave travel concession or assistance
during a block of four calendar years :-
Correct Answer Only one journey can be carried forward to the next block.
Your Answer Only one journey can be carried forward to the next block.
Select The Blank
Question To acquire PAN, a person shall apply in ________ to the assessing officer.
Correct Answer Form No. 49A
Your Answer Form No. 49A
Multiple Choice Single Answer
Question Deduction from Capital Gains under Section 54F is for Capital Gains
arising from transfer of :-
Correct Answer Any Long Term Capital Asset
Your Answer House Property
Select The Blank
Question Where an assessee files or submits the returns as per provisions of section
139 or in response to the notice under section 142, the assessment officer undertakes
________ as per section 143(2) and section 143(3).
Correct Answer Scrutiny Assessment
Your Answer Scrutiny Assessment
Multiple Choice Multiple Answer
Question Income of a professional association is exempt if its objectives are :-
Correct Answer Supervision , Control , Encouragement
Your Answer Supervision , Control , Encouragement
True/False
Question While computing the profits from Business and profession, the business or
profession must be carried out during the previous year.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question In respect of leave travel concession If Mr. A has availed the exemption
only once or has not availed any exemption at all, in the block of four years i.e. 1998-
2001 then :-
Correct Answer He can carry over the exemption to the next block of four years i.e.
2002-2005 provided that he avails the exemption of LTC in the first calendar year of the
next block i.e. 2002.
Your Answer He can carry over the exemption to the next block of four years i.e.
2002-2005 provided that he avails the exemption of LTC in the first calendar year of the
next block i.e. 2002.
Multiple Choice Multiple Answer
Question The amount accumulated to the credit of the employee's provident fund
account is paid at the time of :-
Correct Answer Retirement , Resignation
Your Answer Retirement , Resignation
Multiple Choice Multiple Answer
Question From annual value, following deductions are allowed :-
Correct Answer Standard deduction , Interest on borrowed capital , Municipal taxes
Your Answer Interest on borrowed capital , Municipal taxes
Multiple Choice Single Answer
Question As a general principle, the Basic Salary or Wages, Dearness Allowance
and Bonus / Commission is :-
Correct Answer Fully taxable.
Your Answer Fully taxable.
Multiple Choice Multiple Answer
Question From GTI of a company following deductions under chapter VI A are
allowed
Correct Answer 80 G Donations , 80 HHB profits and gains from projects outside
India , 80 IA profits and gains of infrastructure companies
Your Answer 80 G Donations , 80 IA profits and gains of infrastructure
companies
Multiple Choice Single Answer
Question Annual value of any one palace in possession of a former ruler is :-
Correct Answer Exempt
Your Answer Taxable
Select The Blank
Question If the Salary is more than Rs. 5,00,000, Standard Deduction will be
Rs.________.
Correct Answer 20000
Your Answer 20000
Multiple Choice Single Answer
Question The amount of accumulated interest on NSCs purchased in the earlier
years is assumed to be reinvested :-
Correct Answer And qualifies for tax rebate under section 88.
Your Answer And qualifies for tax rebate under section 88.
Select The Blank
Question Deduction u/s ________B is available for 10 consequent assessment years
from the year of commencement of production.
Correct Answer 10
Your Answer 10
True/False
Question Income from subletting is treated as income from house property.
Correct Answer False
Your Answer False
Select The Blank
Question Section 80U allows the deduction in respect of the ________ .
Correct Answer Permanent physical disability
Your Answer Permanent physical disability
Match The Following
Question Correct Answer Your Answer
Disallowable Expenditure Litigation Expenses in connection with recovery of a debt
which is not a trading debt Litigation Expenses in connection with recovery of a debt
which is not a trading debt
Business Includes trade, commerce, or manufacture or any adventure or concern in
the nature of trade, commerce or manufacture Includes trade, commerce, or
manufacture or any adventure or concern in the nature of trade, commerce or
manufacture
Profession Includes vocation Includes vocation
Capital Expenditure Expenditure incurred by a company with the issue of rights shares
Premium on redemption of Debentures
True/False
Question Any recreational facility provided by the employer to a group of
employees (not being restricted to a select few employees) is not exempt from tax.
Correct Answer False
Your Answer False
True/False
Question In case of deductions for medical treatment under Section 80DDB the
amount of deduction will be reduced by the amount received under an insurance policy or
the amount reimbursed by the employer.
Correct Answer True
Your Answer True
True/False
Question Any advance tax paid before 31st March is treated as advance tax paid
during the previous year.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question Municipal taxes paid is allowed as deduction from :-
Correct Answer Gross annual value
Your Answer Gross annual value
True/False
Question Entertainment Allowance received by the employees from the private
sector is taxable in the hands of the employee.
Correct Answer True
Your Answer True
Match The Following
Question Correct Answer Your Answer
Any subscription made to National Saving Scheme By an individual or a HUF is eligible
for rebate u/s 88 By an individual or a HUF is eligible for rebate u/s 88
Mr. A, a 70 years old Senior Citizen, has the Gross Total Income of Rs. 2,50,000 during
the Assessment Year 2005-2006. He invested Rs. 50,000 in the tax saving bonds of ICICI
on 10th June 2004. His tax liability for the A Y 2005-2006. RS.12,500 RS.12,500
During the Assessment Year 2005-2006, Mrs. A, age 58 years, has the Gross Total
Income of Rs. 1,45,000 including the dividend from Indian companies amounting to Rs.
10,000. She invests Rs. 50,000 in PPF during the said Assessment Year. her tax liabilit is
Rs. 1,000 Rs. 1,000
Any contribution made to a Public Provident Fund Is eligible for rebate u/s 88 Is
eligible for rebate u/s 88
Multiple Choice Multiple Answer
Question Following incomes of local authorities are exempt :-
Correct Answer Capital gains , Other income , House property
Your Answer Capital gains , Other income , House property
Multiple Choice Multiple Answer
Question For Deduction u/s 54EC from Capital Gains the assessee should invest the
whole or part of the capital gains in the specified assets :-
Correct Answer Within six months from the date of transfer of the long-term
capital asset
Your Answer Within six months from the date of transfer of the long-term
capital asset
True/False
Question Income from partnership firms is exempt from taxation for the partners
Correct Answer True
Your Answer False

Taxation - 8

Multiple Choice Single Answer
Question As a general principle, the Basic Salary or Wages, Dearness
Allowance and Bonus / Commission is :-
Correct Answer Fully taxable.
Your Answer Fully taxable.
Select The Blank
Question If assessee owns more than one house properties, he can get benefit
of nil annual value for any one house property ________.
Correct Answer As per his choice
Your Answer As per his choice
True/False
Question Any recreational facility provided by the employer to a group of
employees (not being restricted to a select few employees) is not
exempt from tax.
Correct Answer False
Your Answer False
Multiple Choice Multiple Answer
Question What are the types of Provident Fund?
Correct Answer Statutory Provident Fund , Recognized Provident Fund ,
Unrecognized Provident Fund
Your Answer Statutory Provident Fund , Recognized Provident Fund ,
Unrecognized Provident Fund
Multiple Choice Multiple Answer
Question The least of the following is the exemption available to an employee if
he is in receipt of house rent allowance :-
Correct Answer 50% of the Salary where such accommodation is situated in Mumbai,
Kolkata, Chennai and Delhi and 40% of the Salary when the
accommodation is situated at any other place. , Actual amount of
HRA received by the employee. , Excess of rent paid over 10% of the
Salary.
Your Answer 50% of the Salary where such accommodation is situated in Mumbai,
Kolkata, Chennai and Delhi and 40% of the Salary when the
accommodation is situated at any other place. , Actual amount of
HRA received by the employee. , Excess of rent paid over 10%of the
Salary.
Multiple Choice Multiple Answer
Question To get deduction of Rs 150000/- as interest on borrowed capital
assessee needs to satisfy conditions i.e. :-
Correct Answer Borrowal is after 1st April 1999 , Construction is completed in 3 years
Your Answer Borrowal is after 1st April 1999 , Construction is completed in 3 years
Multiple Choice Multiple Answer
Question The entertainment allowance received by the Government employees
is included in their salaries and the deduction is allowed to the extent
of least of the following amounts :-
Correct Answer Rs. 5,000 , 1/5th of Salary , Actual amount of Entertainment
Allowance received.
Your Answer Rs. 5,000 , 1/5th of Salary , Actual amount of Entertainment
Allowance received.
Select The Blank
Question Section 35AC of the Act applies to any sum paid by the assessee to
a public sector company or a local authority or an association
approved by the national committee for ________ for carrying out
any project in upliftment of public.
Correct Answer Promotion of social and economic welfare
Your Answer Promotion of social and economic welfare
Multiple Choice Single Answer
Question The provisions under section 44AB of the Act, is applicable to the
person carrying on the profession and whose gross receipts in
profession :-
Correct Answer Exceeds Rs.10 lakhs in any previous year
Your Answer Exceeds Rs.40 lakhs in any previous year
Multiple Choice Multiple Answer
Question As per the provision of section 143(2) and 143(3) scrutiny
assessment made by assessing officer in order to ensure that :-
Correct Answer Assessee has not understated the income , Assessee has not
overstated the loss , Assessee has under paid the taxes
Your Answer Assessee has not understated the income , Assessee has not
overstated the loss , Assessee has under paid the taxes , Assessee
has not been allotted the PAN
Multiple Choice Single Answer
Question Annual value of any one palace in possession of a former ruler is :-
Correct Answer Exempt
Your Answer Exempt
True/False
Question Interest paid on the loan for acquiring a capital asset will not be
considered to be a part of cost of acquisition.
Correct Answer False
Your Answer True
Multiple Choice Single Answer
Question Previous year always ends on :-
Correct Answer 31st March
Your Answer 31st March
Multiple Choice Multiple Answer
Question Perquisites which are taxable only in the hands of specified employee
include the following categories of perquisites :-
Correct Answer Motor Car , Services of sweeper, gardener, watchman or personal
attendant , Gas, electricity and water provided for personal
consumption
Your Answer Motor Car , Services of sweeper, gardener, watchman or personal
attendant , Gas, electricity and water provided for personal
consumption
Select The Blank
Question Short term Capital Gains is taxed at ________.
Correct Answer Normal Tax rates
Your Answer Normal Tax rates
Multiple Choice Single Answer
Question Income of notified news agencies is exempt provided :-
Correct Answer They apply their income for collection & distribution of news
Your Answer They apply their income for collection & distribution of news
True/False
Question Clause N0-30 of the Tax Audit requires that, if the cost Audit of the
company carried out, the report of such audit should be enclosed to
the Tax Audit Report.
Correct Answer True
Your Answer True
True/False
Question If an assessee gets the salary from more than one employer during
an Assessment Year, Salary received from all the employers will be
aggregated and then the Standard Deduction will be allowed.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question The amount accumulated to the credit of the employee's provident
fund account is paid at the time of :-
Correct Answer Retirement , Resignation
Your Answer Retirement , Resignation
Multiple Choice Single Answer
Question The amount of advance tax payable by non corporate assessees
before 15th September of Previous year is :-
Correct Answer 30% of advance tax payable
Your Answer 30% of advance tax payable
Multiple Choice Multiple Answer
Question Any loans or deposits borrowed or repaid under section 269SS of the
Act provides that the said provisions will not apply to the loans or
deposits accepted by :-
Correct Answer Government , Government company , Banking company including
cooperative bank and post office savings bank
Your Answer Government , Government company , Banking company including
cooperative bank and post office savings bank
Multiple Choice Single Answer
Question The amount of advance tax payable by corporate assessees before
15th March of Previous year is :-
Correct Answer 100% of advance tax payable
Your Answer 100% of advance tax payable
Multiple Choice Single Answer
Question The due date prescribed for filing the returns of income in Form No.
2C is
Correct Answer 31st October of the respective Assessment year
Your Answer 31st October of the respective Previous year
True/False
Question The amount of expenses including membership fees and annual fees
incurred by the employee on credit card and which are paid by the
employer shall be added as the perquisites unless the said expenses
are incurred wholly and exclusively for official purposes.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Which of the following expenses should be debited to P & L Account,
but disallowed for Income tax purpose?
Correct Answer Wealth Tax , Personal expenditure , Income Tax
Your Answer Wealth Tax , Revenue expenditure , Personal expenditure
Multiple Choice Single Answer
Question The provisions regarding set off and carry forward of loses are
contained in :-
Correct Answer Sections 70 to 80 of the Income Tax Act, 1961.
Your Answer Sections 70 to 80 of the Income Tax Act, 1961.
Multiple Choice Single Answer
Question A partnership firm is an agreement between not more than :-
Correct Answer 20 persons
Your Answer 20 persons
Multiple Choice Single Answer
Question Deduction from Capital Gains under Section 54B is for Capital Gains
arising from transfer of :-
Correct Answer Agricultural Land
Your Answer Long Term Capital Asset other than House Property
Select The Blank
Question To acquire PAN, a person shall apply in ________ to the assessing
officer.
Correct Answer Form No. 49A
Your Answer Form No. 49A
Multiple Choice Multiple Answer
Question Any amount deposited by an Individual or a HUF in 10 year or 15
year account under the Post Office Saving Bank (CTD) Rules, 1959.
The account can be in the name of :-
Correct Answer The individual himself , A minor of whom he is the guardian.
Your Answer The individual himself , A minor of whom he is the guardian. , Spouse
of individual
True/False
Question While computing the profits from Business and profession, the
business or profession must be carried out during the previous year.
Correct Answer True
Your Answer True
Multiple Choice Multiple Answer
Question Following news agencies are specified by the Central Government as
specified news agencies :-
Correct Answer UNI , PTI
Your Answer PTI , NDTV
Select The Blank
Question Any expenditure incurred by the assessee for any purpose which is
________ or which is prohibited by law shall not be allowed as
business expenditure
Correct Answer Offence
Your Answer Anti social
True/False
Question If assessee owns more than one house properties, annual value of
any one of the house property can be treated as nil, and such option
can be changed year on year basis.
Correct Answer True
Your Answer True
Match The Following
Question Correct Answer Your Answer
Superannuation Fund It is an employee welfare
scheme
It is an employee welfare
scheme
Statutory Provident Fund This is set up as per the
provisions of Provident
Fund Act, 1925.
This is set up as per the
provisions of Provident Fund
Act, 1925.
Recognized Provident Fund the provisions of
Employees Provident Fund
and Miscellaneous
Provisions Act, 1952 apply
to this fund.
the provisions of Employees
Provident Fund and
Miscellaneous Provisions
Act, 1952 apply to this fund.
Unrecognized Provident
Fund
The provident fund which is
not recognized by the
income tax authorities .
The provident fund which is
not recognized by the
income tax authorities .
Select The Blank
Question If the Salary is more than Rs. 5,00,000, Standard Deduction will be
Rs.________.
Correct Answer 20000
Your Answer 20000
Select The Blank
Question Mr. Ram is employed by the Central Government as accountant
whose gross salary income is Rs 6,00,000. He can claim standard
deduction of Rs ________ u/s 16(i) of the IT Act.
Correct Answer Rs 20,000
Your Answer Rs 20,000
Match The Following
Question Correct Answer Your Answer
Deduction in case of
permanent physical
disability
Section 80U Section 80U
Deductions for Donations
Paid
Section 80G Section 80G
Deduction for Rent Paid Section 80GG Section 80GG
Deduction in respect of
Interest on Bank Deposits
Section 80L Section 80L
True/False
Question The consideration for transfer of Capital Asset is received by the
transferor is not material while Capital gain chargeable to tax.
Correct Answer True
Your Answer True
True/False
Question The payments for claiming the tax rebate u/s 88 of the IT Act should
be made out of the income chargeable to tax.
Correct Answer True
Your Answer True
Multiple Choice Single Answer
Question In case of any contribution made by an individual or a HUF to notified
units of any approved mutual fund or of Unit Trust of India in
accordance with a notified scheme (Equity Linked Savings Scheme)
:-
Correct Answer The maximum allowable limit is Rs. 10,000
Your Answer Qualifies for tax rebate under section 88D.
True/False
Question Dividend received from domestic company to its shareholders is
taxable in the hands of the shareholder.
Correct Answer False
Your Answer False
Select The Blank
Question Loss from the activity of owning and maintaining the race horses can
be carried forward and set off in the subsequent Assessment Years
subject to the limit of ________ Assessment years.
Correct Answer 4
Your Answer 4
Select The Blank
Question If the property becomes the property of the assessee before
________, the Fair Market Value of the property of the capital asset
on that date will be considered to be the cost of acquisition
Correct Answer 1st April 1981
Your Answer 1st April 1991
Select The Blank
Question For an individual as a citizen of India who leaves India in the relevant
previous year for the purpose of employment has to be in India for
________ days or more during previous year.
Correct Answer 182
Your Answer 182
Select The Blank
Question After deducting interest on capital & remuneration to partners, firm is
required to pay tax @ ________
Correct Answer Tax 35% + 2% SC +2% EC
Your Answer Tax 35% + 2% SC +2% EC
Multiple Choice Multiple Answer
Question Under the clause No-32 of the Act, in the Tax Audit Report, the
Auditor is required to give the accounting calculation in ratios of :-
Correct Answer Gross profit/turnover , Net profit/turnover , Stock in trade/turnover
Your Answer Gross profit/turnover , Net profit/turnover , Stock in trade/turnover

Wednesday, November 12, 2008

Cases in Marketing Management - 10

LIST OF ATTEMPTED QUESTIONS AND ANSWERS

True/False
Question
This question is from the case study "Mr. Atul & Mr. Bhaskar" : Atul felt that freedom to workers means calling for indiscipline.
Correct Answer
False
Your Answer
True

True/False
Question
This question is from the case study "Ice-Kool" : Studying consumer behavior is important to any business.
Correct Answer
True
Your Answer
True

Select The Blank
Question
This question is from the case study "Ray Ltd." : The ________ was to be improved to protect chocolate from melting.
Correct Answer
Packaging
Your Answer
Packaging

Multiple Choice Single Answer
Question
This question is from the case study "Chap-pals" : Current competition of Chap-pal is :-
Correct Answer
Leather shoose
Your Answer
Hawaii

Multiple Choice Multiple Answer
Question
This question is from the case study "Tristar" :What factors affected the estimated stock requirement of 800 dealers?
Correct Answer
Political uncertainty , Act of god
Your Answer
Political uncertainty , Competition actions , Dealer demand

Multiple Choice Single Answer
Question
This question is from the case study "Price Plus" : What is the offer under discussion in the case?
Correct Answer
Money back offer by Akai
Your Answer
Money back offer by Akai

Multiple Choice Multiple Answer
Question
This question is from the case study "AR Sons" : AR Sons became a firm of reputation because of :-
Correct Answer
Service , Quality
Your Answer
Service , Quality

Multiple Choice Single Answer
Question
This question is from the case study "Lubri - Smooth Ltd." : As a promotional strategy the owner believes in :-
Correct Answer
Sampling
Your Answer
Direct marketing

Select The Blank
Question
This question is from the case study "Challenger Sports" : The company command ________ % of the market-share.
Correct Answer
60
Your Answer
75

Multiple Choice Single Answer
Question
This question is from the case study "Kleam" :Why did other companies failed to market toothpastes?
Correct Answer
No uniform quality of Kleam
Your Answer
No uniform quality of Kleam

Multiple Choice Multiple Answer
Question
This question is from the case study "Collaborative Product Development in E-Commerce" :What were benefits of Collaborative development?
Correct Answer
Improves operations , Cuts Costs , Saves Time
Your Answer
Cuts Costs , Saves Time , Saves manpower

Select The Blank
Question
This question is from the case study "Anveshi - The Rural Development Organisation" :The strategy to achieve the objective was to create ________.
Correct Answer
Village organisation
Your Answer
Village cooperative

Multiple Choice Multiple Answer
Question
This question is from the case "Ethel Graff" : Why do Europeans come to India to work?
Correct Answer
Indian Experience matter in International market , Challenge of working in Unfamiliar environment
Your Answer
Challenge of working in Unfamiliar environment , Indian Companies now pay higher salaries

True/False
Question
This question is from the case study "Beauty Cosmetics" :Beauty cosmetics want to reach the products at All India level.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
This question is from the case study "Astroid Computer Corporation" : What is the product range of this company?
Correct Answer
Personal Computer , Monitors , Printers
Your Answer
Personal Computer , Monitors , Printers

Multiple Choice Single Answer
Question
This question is from the case study "Hindustan Lever - Rural Marketing Initiative" :How were towns & villages covered by HLL initially?
Correct Answer
By Van
Your Answer
By Van

Multiple Choice Multiple Answer
Question
This question is from the case study "Reach India Ltd." : What different product segments is Reach India Ltd. Operating in?
Correct Answer
Telecom Service Provider , Handsets
Your Answer
Telecom Service Provider , Handsets

Select The Blank
Question
This question is from the case study "Delana Hosiery Works" :The owner of the company believed in ________ human relations.
Correct Answer
Informal
Your Answer
Informal

Multiple Choice Single Answer
Question
This question is from the case study "Priya Automobiles" : Why did model Priya still continue to sell?
Correct Answer
Was the cheapest model
Your Answer
Was the cheapest model

Multiple Choice Multiple Answer
Question
This question is from the case study "Alcophin" :What Promotional tools are used by Medical companies?
Correct Answer
Visual Aid , Product Literature
Your Answer
Product Literature , Hoardings

True/False
Question
This question is from the case study "Tushar Laboratories" :Mumbai market was the smallest in volumes.
Correct Answer
False
Your Answer
False

Select The Blank
Question
This question is from the case study "ABC A Major Beverages Company" : The arrangement between ABC & CCA is ________.
Correct Answer
CCA will market ABC brands with their own
Your Answer
ABC will market CCA brands with their own

Multiple Choice Single Answer
Question
This question is from the case study "Mr. Nitin Chandra" : Product Benefit of Silver plated Bronze products is :-
Correct Answer
They are within reach of middle class
Your Answer
They are within reach of middle class

Multiple Choice Multiple Answer
Question
This question is from the case study "ABC Company" : Which categories did the company entered lately?
Correct Answer
Refrigerators , Air Conditioners
Your Answer
Air Conditioners

Multiple Choice Single Answer
Question
This question is from the case study "Blue Shield Company" : What type of promotion was planned in high sale period by Benson & Johnson?
Correct Answer
Discount offer
Your Answer
1 + 1 Free

Multiple Choice Multiple Answer
Question
This question is from the case "General Motors Asia-Pacific" : With the global alliance The three car manufacturers in India can :-
Correct Answer
Share each other's products , Commonly buy components , Do cross branding
Your Answer
Share each other's products , Do cross branding

True/False
Question
This question is from the case study "Hotel Black Pearl" :Since the opening of 'Saphire' the business of Black Pearl is remarkably affected.
Correct Answer
True
Your Answer
True

True/False
Question
This question is from the case study "Priya Automobiles" : Supriya was generation bike & was comparable with competition.
Correct Answer
True
Your Answer
True

Multiple Choice Single Answer
Question
This question is from the case study "Thompson & Thompson" : What is the current product segment of the company?
Correct Answer
Health Care
Your Answer
Health Care

Multiple Choice Multiple Answer
Question
This question is from the case study "Ray Ltd." : What were the product differences in Super & Crystal?
Correct Answer
Different Formulation , Different packaging
Your Answer
Different Formulation , Different packaging , Higher price

True/False
Question
This question is from the case study "Pratima Ltd." : The product WPDC-3 with the price of Rs 300/- perfectly fits into the current product range of Pratima Ltd.
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
This question is from the case study "Watts & Volts Ltd." : What was the marketing manager opposed for?
Correct Answer
Two parallel sales organisations
Your Answer
New product managers

Select The Blank
Question
This question is from the case study "Shakti Fitness" :Shakti Fitness offers an opportunity to the citizens of maintaining good health through ________.
Correct Answer
Exercise
Your Answer
Exercise

Select The Blank
Question
This question is from the case study "Raja Consultants Ltd." : The characteristics of the consumer panel were to be used for predicting the behavious of the ________.
Correct Answer
Population
Your Answer
Target Audience

Select The Blank
Question
This question is from the case study "Food Processing Industry" : According to union, the worker was employed as sweeper & not ________.
Correct Answer
Wet sweeper
Your Answer
Wet sweeper

True/False
Question
This question is from the case study "AR Sons" :Mr Sandeep felt that Internet plus mail order can attain popularity.
Correct Answer
True
Your Answer
True

True/False
Question
This question is from the case study "Vacuum Flasks" : The company has state of the art plant with a Japanese collaboration.
Correct Answer
True
Your Answer
False

Select The Blank
Question
This question is from the case " The Real Thing " : Today Coca Cola is sold in ________ countries.
Correct Answer
200
Your Answer
More than 200

True/False
Question
This question is from the case study "Innovation & Improvisation" : 3 M encouraged everyone to become product champions.
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Old Spice
Erratic Alcohol supplies
Uniform quality
Sugandha Mouth Freshners
Tobaco Products
Tobaco Products
Kleam
No Uniform quality
No Uniform quality
Services Unlimited
Funds for Social Organisations
Funds for Social Organisations

Multiple Choice Single Answer
Question
This question is from the case study "Priya Automobiles" :What must have affected the performance of Mr. Jain?
Correct Answer
No incentives in cash
Your Answer
Less demand in market

Match The Following
Question
Correct Answer
Your Answer
Roshni Lamps
New Product Opportunities
New Product Opportunities
Laxmi Mills
Refined Oil
Raw Oil
Mr. Dinesh Kapoor
Financial Investment
Setting Management Panel
Raja Consultants
Setting Consumer Panel
Financial Investment

Multiple Choice Multiple Answer
Question
This question is from the case study "Tushar Laboratories" : What was Tushar's strength over giant competitor?
Correct Answer
German collaboration , No quality complaints
Your Answer
German collaboration , No quality complaints , Better distribution

Multiple Choice Single Answer
Question
This question is from the case " Laxmi Mills " : What was the product benefit of refined oil?
Correct Answer
Very Pure
Your Answer
Very Pure

Select The Blank
Question
This question is from the case study "Maxwell Ltd." : According to Mr. Arvind, Success is the outcome of well managed ________.
Correct Answer
Interdependence
Your Answer
Employees

Multiple Choice Multiple Answer
Question
This question is from the case study "Bharat Research Development Corporation " : What details does Project Profile have?
Correct Answer
Product Identification , Types of machinery , Raw material
Your Answer
Product Identification , Types of machinery

Select The Blank
Question
This question is from the case study "Thompson & Thompson" : The name was decided as Thompson & Thompson to encash the ________.
Correct Answer
Brand Equity
Your Answer
Brand Equity

Cases in Marketing Management - 8

Top of Form
LIST OF ATTEMPTED QUESTIONS AND ANSWERS

Multiple Choice Single Answer
Question
This question is from the case study "Mr. Ramrao Panase" :The sales rep of the company did not recommend the termination of Sujata & Anil because :-
Correct Answer
The demand may get disturbed
Your Answer
They had good reputation in market

Match The Following
Question
Correct Answer
Your Answer
In initial years the concentration is in
Northern reagion
Western reagion
This question is from the case study "Switchex Company" : Switchex company manufactures
Entire range of awitchgear products
Entire range of awitchgear products
Pricing strategy
Lower than the competitors by 8-10%
Lower than the competitors by 8-10%
Its Pune office headed by
Mr. Patil
Mr. Patil

Multiple Choice Multiple Answer
Question
This question is from the case study "Mahesh Pharmaceuticals" : What are the responsibilities of Propaganda Stockiest?
Correct Answer
Distribute the medicines , Get medicines prescribed by the doctors
Your Answer
Distribute the medicines , Get medicines prescribed by the doctors , Get maximum discount from the company

Multiple Choice Multiple Answer
Question
This question is from the case " Seven Species" : Which countries were banned from exporting shrimps?
Correct Answer
India , Pakistan
Your Answer
Korea

Multiple Choice Single Answer
Question
This question is from the case study "Deepak Pharmaceuticals" : Why did Mr. Khanna slashed Ad budget?
Correct Answer
Supply shorter than demand
Your Answer
No demand

Select The Blank
Question
This question is from the case study "The Kellogg Company" :To increase sales in Brazin the marketing director had to create a ________ breakfast habit.
Correct Answer
Nutritious
Your Answer
Nutritious

Multiple Choice Multiple Answer
Question
This question is from the case study "Challenger Sports" : If a particular cricket star fails then this leads to :-
Correct Answer
less sale of bats with his photo , High inventories
Your Answer
less sale of bats with his photo , High inventories , Bad quality perception of bats , Poor price for those bats

True/False
Question
This question is from the case study "Huge Electronics" :Due to matrix structure the functional & project managers coexisted.
Correct Answer
True
Your Answer
True

True/False
Question
This question is from the case study "Sukhi and Bhoopy" : Using S & B brand name for the new products produced in the new sewing machine is called Brand Extension.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
This question is from the case study "Air Cool India Ltd." : The test marketing was decided in Mumbai :-
Correct Answer
To see product Performance , Was done for 2 months
Your Answer
To see product Performance , Was done for 3 months , To see consumer response

Multiple Choice Single Answer
Question
This question is from the case study "Seema Leather" : Indian leather industry is facing problem of :-
Correct Answer
Modernisation
Your Answer
Modernisation

Multiple Choice Single Answer
Question
This question is from the case study "Konkan Trading Company" : Why was the officer promoted by 5 grades?
Correct Answer
Extraordinary Sports performance
Your Answer
Over achievement of target

True/False
Question
This question is from the case study "Atlas Marketing (P) Ltd." :Atlas marketing is a direct marketing firm.
Correct Answer
True
Your Answer
True

Select The Blank
Question
This question is from the case study "Suc Seed Plantation" :M/S Suc Seed are innovator - manufacturers & not too expert in ________ technique.
Correct Answer
Marketing
Your Answer
Marketing

Select The Blank
Question
This question is from the case study "ABC A Major Beverages Company" : The arrangement between ABC & CCA is ________.
Correct Answer
CCA will market ABC brands with their own
Your Answer
ABC will manufacture CCA brands

Multiple Choice Multiple Answer
Question
This question is from the case study "Mr. Vikrant Modi" : In what industry the product of this company used as Raw Material?
Correct Answer
Chemical , Pharmaceutical
Your Answer
Fertilisers , Metal Coating , Chemical

Multiple Choice Multiple Answer
Question
This question is from the case study "Ajanta Biscuits" : In which segments is Ajanta Biscuit currently present?
Correct Answer
Glucose , Salted
Your Answer
Glucose , Salted , Cream

True/False
Question
This question is from the case study "Pratima Ltd." : The product WPDC-3 with the price of Rs 300/- perfectly fits into the current product range of Pratima Ltd.
Correct Answer
False
Your Answer
True

True/False
Question
This question is from the case study "Innovation & Improvisation" : 3 M encouraged everyone to become product champions.
Correct Answer
True
Your Answer
True

Match The Following
Question
Correct Answer
Your Answer
Divya Bhaskar
The third Gujarati daily newspaper to be launched
The third Gujarati daily newspaper to be launched
This question is from the case study "The Marketing of Divya Bhaskar" : Pre launch activites & Strategies
To create awareness for Divya Bhaskar & establish brand image
To create awareness for Divya Bhaskar & establish brand image
Key fingings of survey
Their newspaper is average in all respects
Their newspaper is average in all respects
Post survey phase
Order bookings crossed a record mark of 2 lac.
Order bookings crossed a record mark of 2 lac.

Multiple Choice Multiple Answer
Question
This question is from the case study "Deepak Pharmaceuticals" : What was the effect of slashed advertising?
Correct Answer
Profits increased , Reserves increased
Your Answer
Profits increased , Reserves increased , Manpower increased

Multiple Choice Multiple Answer
Question
This question is from the case "The Real Thing" : Coke used think Global act Local policy by way of :-
Correct Answer
Locally manufacturing product , Creating country/ region specific advertising , Pricing the product differently in Different countries
Your Answer
Locally manufacturing product , Creating country/ region specific advertising , Pricing the product differently in Different countries

Multiple Choice Single Answer
Question
This question is from the case study "Dream Launch of Ford Escort" : What was the percieved difference between petrol & diesel version of Escort?
Correct Answer
Petrol is underpowered than diesel
Your Answer
Diesel is smooth than petrol

Multiple Choice Single Answer
Question
This question is from the case study "Paramount Fertilisers" : What facility was offered to Paramount as a special case?
Correct Answer
More credit
Your Answer
More credit

True/False
Question
This question is from the case study "Bharat Research Development Corporation" : The major area of dissent in case of BRDC was lack of marketing data.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
This question is from the case study "Ray Ltd." : What were the product differences in Super & Crystal?
Correct Answer
Different Formulation , Different packaging
Your Answer
Different Formulation , Different packaging , Different Consumer

True/False
Question
This question is from the case study "Thompson & Thompson" : The study showed that the market for prickly heat powder is declining.
Correct Answer
False
Your Answer
False

Multiple Choice Single Answer
Question
This question is from the case study " Raja Consultants Ltd." : What did Raja Consultants started with?
Correct Answer
Consultancy
Your Answer
Advertising

Select The Blank
Question
This question is from the case study "Suc Seed Plantation" : M/S Suc Seed have always believed in Excellence Through ________.
Correct Answer
Innovation
Your Answer
Best Service

Select The Blank
Question
This question is from the case study "Delana Hosiery Works" :The owner of the company believed in ________ human relations.
Correct Answer
Informal
Your Answer
Professional

Multiple Choice Multiple Answer
Question
This question is from the case study "Job Satisfaction" : What was the effect of Jayant continuing in the same job?
Correct Answer
Frustration , Demoralisation
Your Answer
Frustration , Demoralisation , Not meeting target

Multiple Choice Single Answer
Question
This question is from the case study "Shakti Fitness" :The profitability is highest for :-
Correct Answer
Jogging
Your Answer
Yoga

Multiple Choice Single Answer
Question
This question is from the case study "Priya Automobiles" :Why did the company started loosing the market?
Correct Answer
New Fuel efficient bike introduced
Your Answer
New Fuel efficient bike introduced

True/False
Question
This question is from the case study "Huge Electronics" :Due to matrix structure the functional & project managers coexisted.
Correct Answer
True
Your Answer
True

Multiple Choice Multiple Answer
Question
This question is from the case study "Roshni Lamp Makers Ltd." : What are the product benefits of electronic ballast?
Correct Answer
Reduces energy consumption , Increases efficiency , Increases tube life
Your Answer
Reduces energy consumption , Increases efficiency , Increases tube life

Multiple Choice Single Answer
Question
This question is from the case study "Kamlesh & Laltu" : What is the current product constraint of kamlesh & Laltu?
Correct Answer
One Type & One size
Your Answer
Little height

Select The Blank
Question
This question is from the case study "Mr. Anna Patil" : Mr Anna Patil's farm was ________.
Correct Answer
Canal irrigation
Your Answer
Canal irrigation

Select The Blank
Question
This question is from the case study "U.P. Mini Computers" : Zenith suggested a research in India to decide on ________.
Correct Answer
Product Mix
Your Answer
Pricing

Multiple Choice Multiple Answer
Question
This question is from the case study "Tasty Biscuits Pune" : The positive points of this company were :-
Correct Answer
Good Quality , Good Distribution , Good Promotion
Your Answer
Good Quality , Good Distribution , Good Price

Multiple Choice Single Answer
Question
This question is from the case study "Fluid Control Devices Ltd." : Fluid Control Devices has current image of a manufacturer of :-
Correct Answer
Petrol Pumps
Your Answer
Oil Pumps

Multiple Choice Single Answer
Question
This question is from the case study "The Cold Ice-Cream Company" : What is the promotional offer on the new product?
Correct Answer
Rs 6/- Off Coupon
Your Answer
Buy One get one free

Select The Blank
Question
This question is from the case " Coca-Cola " : Analysts felt that Belgian recall was the worst________ problem.
Correct Answer
Public Relations
Your Answer
Distribution

True/False
Question
This question is from the case study "Ray Ltd." : The marketing director wanted Ray Ltd. to diversify in Biscuits.
Correct Answer
False
Your Answer
True

Select The Blank
Question
This question is from the case study "Mr. Ramrao Panase" :Anil & Sujata were the direct dealers who were appointed as ________.
Correct Answer
Distributors
Your Answer
Distributors

Select The Blank
Question
This question is from the case study "Chocolates" :CDM tried to break ________ that chocolates are only for children.
Correct Answer
Consumer mindset
Your Answer
Consumer mindset

True/False
Question
This question is from the case study "Wall Mart" : Wall Mart is the largest chain of outlets in the world.
Correct Answer
True
Your Answer
True

Select The Blank
Question
This question is from the case study "Shakti Fitness" :Shakti Fitness offers an opportunity to the citizens of maintaining good health through ________.
Correct Answer
Exercise
Your Answer
Exercise
Bottom of Form