Hello Friends,
While studying today I got stuck in a few MCQs in which your help is required.
1. An employee who was not entitled to gratuity, got 30% of his total pension commuted in the past. He wishes to commute another 25% of his total pension in the previous year. He shall be allowed exemption to the extent of:
A. NIL
B. 20%
C. 25%
2. R, had acquired a license to operate telecommunication service in the previous year 2007-08 for 2 Crores and it has a life of 20 years. Part of the license is sold in the previous year 2011-12 for 1 Crore. R shall be allowed deduction to the extent of:
A. 3.75 Lakhs per year for the remaining 16 years
b. Entire 60 Lakhs in the PY 2011-12.
3. Under section 44AB, specified date means ______ of the AY.
4. The additional depreciation in respect of new building constructed in Financial year 2009-10 at a cost of 25 Lakhs for maufacturing garments will be Rs. _________
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