Play test (Office, Part - 2)

What is the rate of surcharge applicable to individuals having total income exceeding Rs. 1 crore?

• 15%

• 12%

• 10%

• 8%

Which form is used to file an application for obtaining Permanent Account Number(PAN) by an Indian resident ?

• Form 49B

• Form 49A

• Form 49

• Form 49AA

What happens if you have a bad credit score?

• Decreases your likelihood of being approved for a loan

• When you receive a loan, your interest rate could increase.

• You are likely to miss out on a lot of introductory offers (cashback, other incentives)

• All of these

What is the maximum amount that can be used to reduce taxable income by making tax savings investments under section 80C?

• 1,50,000

• 1,00,000

• 50,000

• 25,000

Which section allows for an additional deduction for investments in NPS up to 50,000?

• 80CCD (1B)

• 80CCD (1)

• 80A

• 80CCD (2)

Which savings scheme under 80C was created to help in building a fund for the higher education and other expenses associated with raising a girl child?

• Sukanya samriddhi yojana

• Kanya yojana

• Beti padhao yojana

• None of these

Which section allows tax benefits for purchasing an electric vehicle?

• 80EEB

• 80CC

• 80E

• 80AA

What is the full of TDS?

• Tax deducted at source

• Tax derived from sales

• Tax deducted on savings

• None of these

Which is the most popular of the four credit information companies licensed by the Reserve Bank of India?

• Credit Information Bureau (India) Limited

• EQUIFAX

• EXPERIAN

• CRIF High Mark

What is the full form of ELSS?

• Equity linked shares scheme

• Equity linked secured savings

• Equity linked savings scheme

• None of these