Practice Test

Q1) Deduction u/s 80 C in respect of LIP, Contribution to provident fund, etc. is allowed to : Show Answer

Q2) Deduction u/s 80-C is allowed to the maximum of Show Answer

Q3) For claiming deduction u/s 80 -C in respect of life insurance premium, it can be paid by assessee for Show Answer

Q4) In the case of HUF, deduction u/s 80 C in respect of life insurance premium shall be allowed for : Show Answer

Q5) 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 : Show Answer

Q6) For claiming Deduction u/s 80 C, the payment or deposit should be made : Show Answer

Q7) Annual interest accrued on NSCs VIII issue shall be Show Answer

Q8) Deduction u/s 80- C in respect of tuition fee is allowed to Show Answer

Q9) Deduction u/s 80-C for tuition fee shall be allowed for the purposes of : Show Answer

Q10) Deduction u/s 80 C in respect of tuition fee is allowed to an individual for Show Answer

Q11) Deduction u/s 80 C in respect of term deposit with a scheduled bank is allowed if the term deposit is for a period. Show Answer

Q12) Deduction under section 80 CCC is allowed to the extent of : Show Answer

Q13) Deduction in respect of contribution for annuity plan to certain pension fund under 80 CCC is allowed to Show Answer

Q14) Deduction u/s 80 D in respect of medical insurance premium is allowed to Show Answer

Q15) Deduction u/s 80 D is allowed to an individual for premium paid to insure the health of Show Answer

Q16) The payment for Insurance premium under section 80 D should be : Show Answer

Q17) The quantum of deduction allowed under section 80 D shall be limited to : Show Answer

Q18) Deduction u/s 80 DD in case of dependent with severe disability shall be allowed Show Answer

Q19) Deduction under section 80 DD shall be allowed : Show Answer

Q20) Deduction u/s 80 E shall be allowed in respect of amount paid by way of interest on loan taken from Show Answer

Q21) The deduction u/s 80 E is allowed for repayment of interest to the extent of : Show Answer

Q22) Deduction u/s 80 E shall be allowed for the higher education of Show Answer

Q23) Deduction u/s 80 U in case of person with disability is allowed to Show Answer

Q24) The quantum of deduction allowed u/s 80 U is : Show Answer

Q25) Deduction u/s 80 U in case of severe disability shall be allowed Show Answer

Q26) Deductions under sec. 80 of the chapter VI A of the Income tax act are allowed form ____. Show Answer

Q27) Gross total income, for the purpose of computing maximum limit of chapter VI A (Sec. 80)deductions does not include _____. Show Answer

Q28) Deduction u/s 80 C in respect of tuition fee is allowed to the maximum extent of ___ for two children Show Answer

Q29) Payment of life Insurance premium in excess of___ of the sum assured shall not be included in the amount deductible under section 80 C. Show Answer

Q30) Deduction u/s 80 C in respect of time deposit in post office is allowed if the deposit is for a period of ____ years Show Answer

Q31) Deduction claimed in the past u/s 80 C in case of ULIP Dhanaraksha is withdrawn if a ULIP plan is terminated before contributions were made for __years. Show Answer

Q32) Total deduction u/s 80C and u/s 80CCC cannot exceed Rs.______ Show Answer

Q33) Maximum amount of deduction u/s 80 D for mediclaim insurance premium of a resident senior citizen is Rs. ______. Show Answer

Q34) Deduction u/s 80 DD in respect of maintenance of a handicapped dependent is allowed to ___ or _____ only. Show Answer

Q35) Amount deductible u/s 80 DD for maintenance of a handicapped dependent is Rs. ______. Show Answer

Q36) Deduction u/s 80 E is available for interest on loan for higher education to _____ only Show Answer

Q37) The deduction u/s 80 E for payment of interest on loan for higher education is allowed for a maximum period of __ years. Show Answer

Q38) Deduction u/s 80 U for handicapped individual is not available if the individual is suffering from less than ___ disability. Show Answer

Q39) Amount deductible u/s 80 U in respect of a person with server disability is ____. Show Answer

Q40) As per S.14 of the Income-tax Act, there are ____ heads of Income. Show Answer

Q41) Income computed under each head, when added together is called_____. Show Answer

Q42) Expenses incurred by an assessee in relation to exempt income are ____ as per Sec 14A of Income Tax Act. Show Answer

Q43) Rent received from tenant of a house property is classified as _______. Show Answer

Q44) Lottery prize won is charged to tax under the head ___. Show Answer

Q45) Perquisites received by employees are taxed as Income from other sources. Show Answer

Q46) Profit made on sale of old house is taxed either as business income or capital gains. Show Answer

Q47) Deduction u/s 80C in respect of LIP, contribution to provident fund, etc., is allowed to any assessee. Show Answer

Q48) Deduction u/s 80C is allowed from gross total income. Show Answer

Q49) For claiming Deduction u/s 80C in respect of L.I. P., premium can be paid by assessee for himself spouse and any child. Show Answer

Q50) For claiming Deduction u/s 80C, for life insurance premium if the payment is made by the assessee for his child, then the child must be dependent and unmarried Show Answer

Q51) 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 be allowed Deduction for the entire premium as per the provisions of section 80C. Show Answer

Q52) For claiming Deduction u/s 80C in respect of P.P.F., the contribution must be paid by the individual in the P.P.F. account of himself only. Show Answer

Q53) The annual interest accrued on NSCs VIII issue shall be taxable as “Income from other sources”, but also eligible for Deduction u/s 80C. Show Answer

Q54) Deduction u/s 80C in respect of tuition fee is allowed to an individual or HUF. Show Answer

Q55) Deduction u/s 80C in respect of tuition fees allowed to an individual for any number of children. Show Answer

Q56) Deduction u/s 80C in respect of tuition fee is allowed to the maximum extent of RS.12,000 per child for maximum of 2 children. Show Answer

Q57) Deduction under section 80D in respect of medical insurance premium is allowed to any person who is resident in India. Show Answer

Q58) Deduction u/s 80D is allowed only if the premium is paid to Life Insurance Corporation. Show Answer

Q59) The premium under section 80D can be paid by an individual, for his dependent brother. Show Answer

Q60) The payment for insurance premium under section 80D can be made in cash. Show Answer

Q61) The quantum of deduction allowed under section 80D shall be limited to Rs.1,00,000 Show Answer

Q62) Where the medical insurance premium is paid to effect an insurance in relation to a senior citizen, the deduction allowed shall be Rs.1,15,000. Show Answer

Q63) Deduction u/s 80U in case of permanent physical disability is allowed to an individual who is citizen of India. Show Answer

Q64) The quantum of maximum deduction allowed u/s 80U is Rs.50,000. Show Answer

Q65) Deduction u/s 80U shall be allowed only when the assessee is suffering from a permanent disability at the beginning of the previous year. Show Answer