Summer Special 60% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: bestdeal

Get Certified: Proven Methods to Pass the AAFM CTEP Exam

Questions 21

In ____________ the parties have the right to withdraw from the contract as long as the parties do not leave the place of contract. In___________ the buyer could cancel the sale if the seller has sold the goods at price higher than the market price.

Options:

A.

Khiyar al Royat, Khiyar al Wasf

B.

Khiyar al Tayin, Khiyar al Shart

C.

Khiyar al Aib, Khiyar-e-Naqad

D.

Khiyar-e-Majlis, Khiyar al Ghabn

Buy Now
Questions 22

Vikrant Juneja gifted his house property to his wife in year 2007. Mrs. Juneja then lets out this house @ Rs. 5000 per month. The income from such house property will be taxable in the hands of:

Options:

A.

Mrs. Juneja

B.

Vikrant. However income will be computed first as Mrs. Juneja’s income and thereafter clubbed in the income of Manish.

C.

Vikrant, as he will treated as deemed owner & liable to pay tax

D.

Anyone amongst both of them, whose income is greater.

Buy Now
Questions 23

As per Workmen’s Compensation Act, in case there is default in paying compensation .

CTEP Question 23

Options:

A.

Only (i)

B.

Only (ii)

C.

Neither (i) nor (ii)

D.

Both (i) and (ii)

Buy Now
Questions 24

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

CTEP Question 24

Options:

A.

All (i),(ii),(iii) and (iv)

B.

Only (ii) and (iv)

C.

All except (iv)

D.

All except (i)

Buy Now
Questions 25

Short-term capital gain arising for the transfer of equity shares and units of equity oriented fund shall be taxable

Options:

A.

at the normal rate

B.

at the rate of 20%

C.

at the rate of 10% if transferred on or after 1-10-2004

D.

at the rate of 10% if transferred on or after 1-10-2004 through a recognized stock exchange & such transaction is chargeable to securities transaction tax

Buy Now
Questions 26

With respect to Workmen’s Compensation Act, if distinction is made on the ground of duration of incapacity it may extend to

CTEP Question 26

Options:

A.

Only (i) and (ii)

B.

All of the above

C.

(i),(ii) and (v)

D.

Only (iii) and (v)

Buy Now
Questions 27

Mr. Subhash Bansal, a marketing manager is employed with IMFB limited. He took an advance of Rs. 1,20,000 against the salary of Rs. 30,000 per month in the month of March 2007. The gross salary of Mr. Adhikari for the assessment year 2012-13 shall be:

Options:

A.

Rs. 3,60,000

B.

Rs. 4,80,000

C.

Rs. 2,40,000

D.

Rs. 3,80,000

Buy Now
Questions 28

Expenditure incurred in carrying out illegal business is—

Options:

A.

Not allowed as deduction in any case.

B.

Allowable as deduction, if gross total income is less than Rs. 5 lakhs.

C.

Allowable as deduction in all cases.

D.

Allowable as deduction, if income from illegal business is offered to tax.

Buy Now
Questions 29

X furnishes the following particulars for the compilation of his wealth-tax return for assessment year 2012-13.

CTEP Question 29

Calculate the amount on which Wealth Tax is Payable.

Options:

A.

Rs. 2 lakh

B.

Rs. 9.50 lakh

C.

Rs. 17 lakh

D.

Rs. 9 lakh

Buy Now
Questions 30

In case of Loss of Thumb, what is the Percentage of Compensation given (as per Workmen’s Compensation Act)?

Options:

A.

20%

B.

25%

C.

30%

D.

50%

Buy Now