Classical

December 2013 - Paper3

66:  
Out of the following, which are the important objectives of IMF ?
 
(i)- To promote exchange rate stability
{ii) To create standby reserves
(iii) To print International currency notes
(iv) To establish a multilateral system of payments.
(v)  To maintain orderly exchange ' rate stability
(vi) To create employment
A.

(ii), (iv), (v), (vi)

B.

(iii), (v), (vi)

C.

(i), (ii), (iv), (v)

D.

(i), (ii), (v), (vi)

 
 

Option: C

Explanation :


67:  
Given that :
Fair rent of a let out house Propety is Rs 75,000. Its Municipal value is Rs 60,000, standard rent is Rs 72,000 and actual rent received is Rs  63,000. What is the Gross Annual Value of this house Property ?
A.

Rs 60,000

B.

Rs 63,000

C.

Rs 72,000

D.

Rs 75,000

 
 

Option: C

Explanation :


68:  
March the items of List - I with the items of List- II
 
List-I                                                                List-II
(i) Amount deposited in PPF
(a) 80-IA
(ii) Profits and gains from undertakings engaged in
infrastructure development
(b) 80 G
(iii) Contribution to National Defence Fund
(c) 80-IAB
(iv) Profits and gains by an undertaking engaged in the
development of Special Economic Znrle
(d) 80-C

 

A.

(d) (c) (b) (a)

B.

(d) (a) (b) (c)

C.

(d) (a) (c) (b)

D.

(b) (a) (c) (d)

 
 

Option: D

Explanation :


69:  
Which of the following deductions will not come under Sec. 80 of the lncome Tax Act ?
A.
Deduction in the case of a person with disability
B.
Deduction for interest paid on loan taken for pursuing higher education
C.
Deduction for interest on loan taken for the construction / purchase of house Property
D.
Deduction for repayment of any instalment of principal amount borrowed for the purchase / construction of house property
 
 

Option: A

Explanation :


70:  
X purchased a land in tre P.Y. 1997- 98 for Rs 50,000. This land was sold by him during the P.Y. 2009-10 for Rs 8,00,000. The fair market value of this land on 1-4-81 was Rs 1.20.000. If the Cost Inflation Index for the A. Y.  2010-11 is 632, his capital gain for the A.Y. 2010-11 will be
A.

Rs 4,84,000

B.

Rs 7,50,000

C.

Rs 6,80,000

D.

Rs 41,600

 
 

Option: D

Explanation :




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