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Audit under Section 12A/10(23C) of the Income Tax Act , 1961

Total questions: 14

Worksheet time: 5mins

Name
Class
Date
1.
  1. 1. Who can claim the exemption under section 11 and 12 ?

a)

(A) Any trust or institution which was registered under section 12AA

b)

(B) Any trust or institution whether registered or not under section 12AA

c)

(C) Both of the above

d)

(D) None of the above

2.

2.   How much percentage of income can be accumulated or set aside ?

a)

(a) 85%

b)

(b) 15%

c)

(c) 100%

d)

(d) 0%

3.

3.   Under which section income derived from property held under trust wholly or partly for charitable and religious purposes be exempt ?

a)

(a) Section 12A

b)

(b) Section 11

c)

(c) Section 12

d)

(d) Section 13

4.

4.  Trusts or institutions are required to get their accounts audited mandatorily if their Gross Receipts exceed :-

a)

(a) Rs 1000000

b)

(b) Rs 300000

c)

(c) Rs 500000

d)

(d) Rs 250000

5.

5.   If a trust has received Foreign Contribution of Rs 50 lakhs during the previous year. In which form Tax audit report of the trust be filed ?

a)

(a) Form 10

b)

(b) Form 10B

c)

(c) Form 10BB

d)

(c) Form 11

6.

6.  What is the Validity of the provisional Registration of the Trust ?

a)

(a)  2 Years

b)

(b)  3 Years

c)

(c)  4 Years

d)

(d)  5 Years

7.

7.   What is the percentage of Shareholding required to disclose in Clause 10,  where the details of management are shown :

a)

(a)  3% or more

b)

(b)  5% or more

c)

(c)  8% or more

d)

(d)  10% or more

8.

8.     Which Form contains the Statement Of Donation received by the Trust ?

a)

(a) Form 10

b)

(b) Form 10BD

c)

(c) Form 10BA

d)

(d) Form 10BS

9.

9.     Anonymous Donation is taxable under which section:

a)

(a) Section 12A

b)

(b) Section 115BBC

c)

(c) Section 115BBd

d)

(d) Section 13 

10.

10.  Details of the receipts of the auditee on which tax has been deducted at source referred to in which Section:

a)

(a) 194C

b)

(b) 194H

c)

(c) 194J

d)

(d) All of the Above

11.

11.   Tax rate under section 115BBI :-

a)

(a) 40%

b)

(b) 30%

c)

(c) 50%

d)

(d) 15%

12.

12.   Upto what percentage of total expenditure of trust  or charitable institution  is allowed to be made on religious purpose activities to be eligible for availing registration under section 80G:

a)

(a) 30%

b)

(b) 15%

c)

(c) 5%

d)

(d) 2%

13.

13.  What is the limit for taking or accepting any loan or deposit or any specified sum in cash under section 269 SS ?

a)

(a) 10000

b)

(b) 40000

c)

(c) 25000

d)

(d) 20000

14.

14. The aggregate receipts from such activity or activities, during the previous year, does not exceed ____of the total receipts.

a)

(a) 40%

b)

(b) 20%

c)

(c) 30%

d)

(d) 15%