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

A.

Only (i)

B.

Only (ii)

C.

Both (i) and (ii)

D.

Neither (i) or (ii)

A person is deemed to be UK resident for fiscal purposes if in any tax year he/she lives in UK for more than ____________.

A.

182 days

B.

91 days per tax year for 4 consecutive tax years

C.

181 days

D.

92 days per tax year for 4 consecutive tax years

Goods and Services Tax (GST) was introduced in Singapore in ____________

A.

2002

B.

2012

C.

1992

D.

1994

In UK, for year 2013-2014, Blind Person’s allowance is ___________ and minimum amount of married couple’s allowance is __________.

A.

£2,610; £3,400

B.

£2,160; £3,040

C.

£2,100; £2,960

D.

£1,980; £2,800

The Hire Purchase System is regulated by the Hire Purchase Act ________

A.

1972

B.

1982

C.

1962

D.

1952

Foreign maid levy (applicable only to working mothers) is upto ____________ without domestic worker concession and ___________ with foreign domestic worker concession.

A.

$4,000; $6,000

B.

$4,080; $6,360

C.

$6,360; $4,080

D.

$6000; $4,000

Foreign POA should be got stamped by the Collector after its receipt in India within prescribed time of _________. If a POA is in respect of an immovable property of value more than __________ it must be registered.

A.

6 months; Rs. 100

B.

3 months; Rs. 100

C.

6 months; Rs. 10,000

D.

3 months; Rs. 10,000

As per the tax structure in the UK, Inheritance Tax will be due at ____________ on the amount over the nil rate band.

A.

10 percent

B.

36 percent

C.

40 percent

D.

15 percent

Where a transfer of value is from a UK-domiciled spouse to a non-UK domiciled spouse, then the exempt transfer is limited to ________. For annual exemption, each individual can transfer an exempt amount of up to________ per year.

A.

£45,000; £3,000

B.

£55,000; £3,000

C.

£45,000; £5,000

D.

£55,000; £5,000

In US, GST exemption limit for 2013 is _______________ and the Estate and Gift tax for the same year is __________.

A.

$5,000,000 ; 35%

B.

$5,250,000 ; 40%

C.

Nil as Estate Tax is repealed; 35% for Gift tax only

D.

$5,250,000 ; 40% for Gift Tax only