Where an urban agricultural land owned by an individual, continuously used by him for agricultural purposes for a period of two years prior to the date of transfer, is compulsorily, acquired under law and the compensation is fixed by the state Government, resultant capital gain is exempt.
| A. | True |
| B. | False |
| C. | Cannot be said with certainty |
| D. | Is decided by the Assessing Officer |
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Option: B Explanation : Click on Discuss to view users comments. Shailaja said: (10:37pm on Tuesday 17th January 2017)
How it is false can u mention reasons that can make better understanding
Akhila said: (11:45am on Sunday 8th October 2017)
i think its cuz ter is a condition that such gain shud be used for purchasing another agri land witin 2 yrs...ter is no mention of such info so
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If any amount is donated for research, such research should be in nature of
| A. | Scientific research only |
| B. | Social or statistical research only |
| C. | Scientific or social or statistical research |
| D. | None of the above |
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Option: C Explanation : Click on Discuss to view users comments. |
Education cess is leviable in case of
| A. | An individual and HUF |
| B. | A company assessee only |
| C. | All assesses |
| D. | None of the above |
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Option: C Explanation : Click on Discuss to view users comments. |
An assessee has paid life insurance premium of Rs. 25,000 during the previous year for a policy of Rs. 1,00,000. He shall
| A. | Not be allowed deduction u/s 80C |
| B. | Be allowed Deduction u/s 80C to the extent of 20% of the capital sum assured i.e.Rs. 20,000 |
| C. | Be allowed Deduction for the entire premium as per the provisions of section 80C |
| D. | None of the above |
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Option: B Explanation : Click on Discuss to view users comments. Asna Ateeq said: (2:47am on Saturday 24th December 2016)
The qualifying amount of any premium on insurance polocy issued before 1.4.2012 shall not exceed 20% of the actual amount.The qualifying amount of any premium on insurance policy issued on or after 1.4.2012 shall not exceed 10% of the actual amount.
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