Question 1

X owns a piece of land situated in Varanasi (Date of acquisition : March 1, 1983, Cost of acquisition Rs. 20,000/- value adopted by Stamp duty authority at the time of purchase Rs. 45,000/-).On March 30, 2012 the piece of land is transferred for 4 lakh. Find out the capital gains chargeable to tax if the value adopted by the Stamp duty authority is 5.5 lakh. X does not dispute it. [CII-12-13: 852,11-12: 785,10-11:711]

Options :

A : Rs. 4,05,963/-

B : Rs. 3,45,963/-

C : Rs. 3,80,963/-

D : Rs. 4,15,963/-

Answer: A

Question 2

In Singapore, the deadline for filing personal tax return is _________.

Options :

A : 31-Mar

B : 15-Apr

C : 31-Dec

D : 15-Sep

Answer: B

Question 3

______________ of the Hindu Succession Act,1956 groups the heirs of a male intestate into four groups and lays down that the property first devolves upon the heirs of Class I of the Schedule

Options :

A : Section 1

B : Section 8

C : Section 12

D : Section 9

Answer: B

Question 4

The Client wants to find out the value of estate that his spouse and each of their children would receive assuming he dies today.

Options :

A : $2,804,035

B : $2,774,035

C : $2,757,333

D : $2,772,702

Answer: B

Question 5

Estate Planning is ________ process.

Options :

A : One time

B : Continuous

C : Two step

D : Three step

Answer: B

Higher Test Marks with Free Online CTEP Exam Practice

Buying Options: