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CS Executive Practice Test: Assessment of Individual & HUF – CS Executive Tax Laws
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CS Executive Practice Test: Assessment of Individual & HUF – CS Executive Tax Laws
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8 Questions

1. A registered trade union earned ₹ 1,00,000 by way of interest on bank deposit and ₹ 1,50,000 by way of rent from letting out premises.
Total income of the Trade union chargeable to tax would be
2. Ram & Co., a proprietorship firm has paid tax for the assessment year 2021-22 as per Section 115JC of the Income Tax Act, 1961.
The credit of such paid tax can be carried forward by the proprietor for a period of the following a number of assessment years immediately succeeding the assessment year 2021-22:
3. When Mr. X retired from X & Co. a partnership firm on 1.1.2021, he was paid ₹ 15 lakhs for not doing a competing business for the next 5 years.
The amount so received chargeable to tax in the hands of Mr. X is:
4. Ms. Pinky (age 61) pledged her residential building with the State Bank of India and received ₹ 10,000 every month under the reverse mortgage scheme during the financial year 2020-21.
The amount liable to income-tax in respect of such receipt would be:
5. Mr. Chandan (age 70) received ₹ 30,000 every month during the financial year 2020-21 on a reverse mortgage of his property with State Bank of India.
The amount of receipt liable to tax in the hands of Mr. Chandan is:
6. The voluntary contributions received by an electoral trust during the year is not included in its income
7. The provisions of AMT under Chapter XITBA shall not apply to an individual, a HUF, etc. if the adjusted total income of such person does not exceed:
8. RS HUF consists of R Karta, Y and S coparceners, D, the daughter of a coparcener, and W, the wife of Karta as members.
The following can demand the partition of RS HUF:

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