
Deductions under chapter VI-A
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Professional Development
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Deductions under Chapter VI-A of the Income Tax Act, 1961 are allowed after excluding which of the following incomes from the gross total income?
(i) Income from house property
(ii) Long-term capital gains
(iii) Short-term capital gains under Section 111A
(iv) Income from lotteries
(i), (ii) and (iii)
(ii), (iii) and (iv)
Both (ii) and (iii)
4.Only (ii)
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The deductions are available from the following incomes except:
(a) Long term capital gains
(b) Short term capital gains u/s 111A
© Winnings from lotteries, races, etc.
(d) All of the above
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Mr. Ram has GTI of ₹1,20,000 for F.Y. 2020-21 and has deduction under chapter VI-A of ₹1,50,000. Loss to be carried forward by Mr. Ram for FY 2020-21 is:
(a) Nil
(b) ₹30,000
© ₹1,50,000
(d) ₹20,000
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
For the year ended 31st March, 2021, Paresh receives an annual salary of ₹2,80,000. Paresh’s contribution to employees’ recognized provident fund account is ₹59,000, and matching contribution has been made by the employer. Taxable income of Paresh will be:
(a) ₹1,96,400
(b) ₹2,06,400
© ₹3,39,000
(d) ₹2,80,000
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An individual has made investments in the schemes approved u/ss 80C and 80CCD of ₹2,50,000 and ₹1,00,000 respectively during the year ended 31st March, 2021. Amount that can be claimed by him as deduction out of income in AY 2021-22 is:
(a) 50% ofRS.3,50,000
(b) ₹1,50,000 u/s 80C and ₹50,000 u/s 80CCD (1B)
© ₹1,50,000
(d) All of the above
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which section of the Income Tax Act provides deductions on certain investments and expenses?
(a) Section 80D
(b) Section 80G
© Section 80C
(d) Section 80U
7.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Which section allows 100% tax deductions for donations to certain charitable institutions and funds?
(a) Section 80G
(b) Section 80GG
© Section 80D
(d) Section 80E
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