8/3/2019 Quiz 1 Sec-c- Final With Answer
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QUIZ I M.M:10 Sec-3NAME: Roll. No.
Note: - No consideration of Education Cess & Higher
Education Cess. In Taxation Questions.Qualitative Parameters will
not be considered in decision making.
Q.1 You are faced with two situations:
Situation 1 - T o incur an immediate expenditure of Rs. 10,000/-
or
Situation 2 - To make the payment ofRs. 2310/- at the end of
each year for a period of 5 years.
Which of the two options is better, assuming thediscounting rate
of12%.
A. Situation 1 B. Situation 2 C. Both Equal D. Cant be
answered
Q.2 If a Man earns Rs. 7.20 Lacs & a Woman earns Rs. 6.70
Lacs(Both of them dont have any tax saving instrument). Choose
Correct Option---
A. Man will Pay Rs. 10000 more than woman B. Woman will Pay Rs.
9000 extra than manC. Man will Pay Rs. 5000 extra than woman D. Man
will Pay Rs. 11000 extra than woman
Q.3 If a 66 year old Person is paying Rs. 36000 Income tax in
fin year 11-12. What is Total income of person( If person has
invested Rs. 1.50 Lacs in life insurance policy & Rs.35000 in
Infra Bond
in the same financial year. ) A. 360000 B. 610000 C. 675000 D.
not able to answer, Plz tell the gender of the person
Q.4 Option 1-- 11 % bank FD Option 2-- 11 % Debt Fund
Which is a better option for a person for 2 year investment
horizon if inflation rate is 0% in these2 years.1. If a persons
income is not taxable A. Option 1 B. Option 2 C. cannot be
answered
2. If a person is in 10% Income Slab A. Option 1 B. Option 2 C.
Both are Equal3. If a person is in 30% Income Slab & a senior
citizen
A. Option 1 B. Option 2 C. Cannot be answered
Q.5 Assume that you have a 14 % annual paying 1 year NCD of face
value 3000/-. The value ofthis Debenture if the discount rate is
9.9 % should be
A. 1928 B. 4242 C. Cant answer without knowing inflation
rate
Q 6 We get tax rebate under same section of Income tax Law in
which of these 2 options.
A. PPF & Infra bond B. Education loan interest & Home
loan interest
C. Life Insurance Policy & Home Loan Principal D. Life
insurance & Health Insurance PolicyQ.6
Q.7 An individual can get Total rebate of a maximum amount of
Rs. . for investmentunder
Section 80 CCF of the income tax act.
A. 15,000 B. 20,000
B. 1,00,000 D. 1,50,000
Q.8 What is Tax Adjusted Yield to investor of a 20% income slab
for an Infra Bond, ifinterest
cumulative rate on bond is 8% annual compounding for 5
years.
A. 12.92 % B. 15.98 % C. 8.75 % D. 17.68 %
Q.9 Tax Treatment is same in which of these 2 options.
A. Infra Bond & PPF B. Equity Fund & PropertyC. Debt
Fund & Gold ETFs D. Equity Fund & Physical Gold
Q10 Debt fund investment of Rs. 2 Lacs in 2005.Redemption Amount
Rs. 4 Lacs in 2009, Calculate capital Gain Tax Considering Benefit
of Indexation?
(Cost inflation Index- Year 2005 - 480 Year2006-497 Year2007-519
Year 2008 -5581
Year 2009-582 Year 2010 -632 )A. 2 LACS B. 20000 C. 31500 D.
Cant be answered without
knowing income tax slab of person
