Correct Answer: Option-D

೦0500752: GAV of a let-out house property Rs. 45,000, which of the following is true?

‘A Municipal Value Rs. 45,000; Fair Rent Rs. 40,000; Standard Rent Rs. 40,000 and Actual Rent Rs. 42,000
B:-Municipal Value Rs. 35,000; Fair Rent Rs. 40,000; Standard Rent Rs. 45,000 and Actual Rent Rs. 40,000
‘C:Municipal Value Rs. 40,000; Fair Rent Rs. 45,000; Standard Rent Rs. 40,000 and Actual Rent Rs. 45,000
Municipal Value Rs. 40,000; Fair Rent Rs. 45,000; Standard Rent Rs. 40,000 and Actual Rent Rs. 40,000
Correct Answer:- Option-C

‘Question53::WDV of a block (Depreciation 10%) on 1.4.2020 is Rs. 20,000 and new asset purchased in May 2021 is Rs. 10,000. Another asset purchased in January for Rs. 10,000. One
asset in the block is sold for Rs, 10,000 (its WDV is Rs. 15,000). Which statement is true?

‘Ac Depreciation of the block is Rs. 4,000
B:-Short term capital gain in Rs. 5.000
C-Short term capital loss in Rs. 5,000
D-No loss or gain
Correct Answer:- Option-D
QuestionS4::Which of the following gifts is not taxable?
‘AcGift from father’s brother
B:-Gift from friends on marriage anniversary
C=Gift from patients
D:-Gift from brother's father-in-law
Correct Answer:- Option-é
Question55:-Which of the following is true regarding clubbing of income?
‘Ac For revocable transfers, transferee is not liable to pay tax in income from asset
B:-Maximum exemption of Rs. 1.500 us bot available for clubbing the income of an adopted child
CzIncome from singing by a minor child is clubbed with the income of parent who has higher income
D-Binamidar is liable to pay tax
Correct Answer:- Option-é
QuestionS6:-From the following receipts, select an example for revenue receipt
‘A-Amount received as compensation for the surrender of certain rights
B:-Amount received as fixed capital
CA receipt in substitution of an income
DA receiptin substitution of a source of income
Correct Answer:- Option-C
QuestionS7:-Rate of TDS on winnings from horse race for the Assessment year 2022-23 is
‘830% + Surcharge+Cess, when winnings exceed Rs. 10,000
B:-30% when winnings exceeds Rs. 5,000
C:-30% when winnings exceed Rs. 10,000
30% +Surcharge + Cess, When winnings exceed Rs. 10,000
Correct Answer:- Option-C
QuestionS8:-Taxable event in GSTs
‘AcSale of goods and services
B:-Supply of goods or services or both made for consideration in the course or furtherance of business
೦-5೫೦ and exchange of goods and services
D:-Delivery of goods and services
Correct Answer:- Option ®
QuestionS9:-Which of the following is net true regarding CBIC?
‘Aci is a part of Department of Economic affairs under Ministry of Finance
B:-Earlier known as central Board of Excise and Customs
C-The board is the administrative authority for custom Houses, central Excise and Central GST commissionerate
Det deals with the tasks of formulation of police concerning levy and collection of indirect taxes

Correct Answer: Option: