Free AAFM CTEP Practice Exam with Questions & Answers | Set: 12

_____________ of the Income Tax Act,1961 contains the provision that the profits and gains of the business carried on by a Charitable Trust would be fully exempt from tax.

Which of the following statement(s) about beneficiary is/are correct?

Socities Registration Act has ______________ Sections. ________________ deals with the Registration and Fee of Society.

_____________ of the Income Tax Act, 1961 provides that where a trustee receives or is entitled to receive any income on behalf of or for the benefit of any person under an Oral Trust, tax is to be charged on such income at the maximum marginal rate.

What is the full form of DFT?

Which of the following statements about Discretionary Family Trust is/are correct?

Which of the following statement(s) about Registration of Will is/are correct?

__________________ is used to show what Inheritance tax is due when someone has died and _________________ is used to show what Inheritance tax is due from lifetime events.

As per US Tax Laws 2013 in case of Single Individuals, if the taxable income is above $400,001 the tax is $116,163.75 plus __________ of the excess of over $400,000.

In US for 2013, the amount of the standard deduction is ______ for single individuals and married individuals filing separate returns.