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WorksheetsDirect Tax CA Final
Total questions: 14
Worksheet time: 7mins
Charging Section of PGBP
28
26
31
45
Income chargeable u/s 28 includes:
a) Income from business, profession or vocation
Any amount received by any person, by whatever name called, holding an agency in India for any part of the activities relating to the business of any other person, at or in connection with the termination of the agency or the modification of any of the terms and conditions relating thereto
Any amount received by any person, for or in connection with the vesting in the Government or any corporation owned or controlled by the Government under any law for the time being in force, of the management of any property or business
All of Above
. Rate at which additional depreciation is charged is
30
20
15
5
. Where any asset is acquired by the assessee during the previous year and is put to use for the purposes of business or profession for a period of less than __________________ depreciation shall be allowed at 50 per cent of the allowable depreciation
180 Days
250 Days
100 Days
210 Days
Additional depreciation is not allowable in case of _________________
any machinery or plant which, before its installation by the assessee, was used within or outside India by any other person
any machinery or plant installed in office premises, residential accommodation, or in any guest house
Both A and B
Only B
. All asset are divided into ______ major categories
2
4
3
5
Any new machinery or plant installed to manufacture or produce any article or thing by using any technology or other know-how developed in or is an article or thing invented in a laboratory owned or financed by the Government or a laboratory owned by a public sector company or a University or an institution recognized by the Secretary, Department of Scientific and Industrial Research, Government of India shall be treated as a part of the block of assets qualifying for depreciation @ _____%
20
30
40
60
0. For the purpose of allowing depreciation an assessee claiming deduction in respect of the assets acquired on hire purchase would be required to furnish a certificate from the seller or any other suitable documentary evidence in respect of the initial value or the cash price of the asset
True
False
NA
None of the Above
Where an asset is acquired by way of gift or inheritance, its actual cost shall be the written down value to the previous owner
True
False
Section 43(1) provides that the actual cost of any capital asset, on which deduction has been allowed or is allowable to the assessee under section 35AD, shall be _______________
Book Value
FMV
MV
Nil
The written down value of any block of assets, may be reduced to nil as per section ___
47
48
49
50
The balancing charge will be the amount by which the moneys payable in respect of such building, machinery, plant or furniture, together with the amount of scrap value, if any, exceeds the _______________
MV
Actual Cost
WDV
NRV
Section ___________provides for a deduction in the computation of the taxable profits in the case of an assessee carrying on business of growing and manufacturing tea or coffee or rubber in India
33AA
32AD
33AB
35
Section 33ABA the quantum of deduction allowed shall be __________%
25
30
40
20
