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CMA Intermediate Exam: Direct Taxation
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Avg score: 17% • Most missed: “Deduction under the section 80E is allowed in respect of”
Syllabus (with weightage): Section A : Income Tax Act Basics 10% 1. Introduction to Income Tax Act, 1961 2. Income which do not form part of Total Income (Section 10, 11 to 13A) Section B : Heads of Income and Computation of Total Income and Tax Liability 70% 3. Heads of Income and Computation of Total Income under various heads 4. Clubbing Provisions, Set off and Carry forward of Losses, Deductions 5. Assessment of Income and tax liability of different persons Section C : Tax Management, Administrative Procedures and ICDS 20% 6. TDS, TCS and Advance Tax 7. Administrative... Show more
CMA Intermediate Exam: Direct Taxation
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25 Questions

1. Preliminary expenses are incurred in every business. What are the expenses that qualify for deduction u/s.35D?
2. Income from farm house outside India is:
3. Agricultural land located in rural area is:
4. Expenditure incurred by a company for the purpose of promoting family planning among its employees, being of a capital nature
5. ICDS-II stands for _______.
6. In case of local authority the return of income is verified by
7. W.e.f. 01-04-2016, quoting
8. The threshold exemption limit for Equalization levy is?
9. Circulars and classification are issued by the central government.
10. Gift received by an individual in certain circumstances is not taxable, one of them is:
11. Contingent income is not income. Until the contingency has happened it cannot be postulated that income has accrued or has arisen to the assessee.
12. Interest on Post Office SB joint account is exempt upto _____
13. Unabsorbed depreciation can be carried forward for
14. When the total income of an individual exceeds Rs.50 lakhs, the surcharge is payable @
15. Compensatory field area allowance is exempt upto ______
16. The provision of sec.56(2)(x) is applicable on
17. Cash gifts received by HUF from his members to the extent of Rs. 75,000 will be treated as income of:
18. Contribution to approved research (not scientific) institution in case of a business man is:
19. Deduction is not allowed to the assessee while computing income from other sources for
20. Cost of acquisition of capital asset being immovable property acquired through gift covered u/s 49(4) is:
21. Dividend received by a shareholder of an Indian Company engaged in growing and manufacturing of tea shall be treated as:
22. Financial Year 2017-18 shall be considered as
23. The following is taxable under the head
24. One out of the following house properties is not exempted, which is:
25. Net Annual Value of a self-occupied property treated as such is:

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