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Find out the taxable value of perquisite from the following particulars in case of an employee to whom the following assets held by the company were sold on 1.8.2012.

The assets were put to use by the company from the day they were purchased.

A.

Rs. 82,170

B.

Rs. 92,850

C.

Rs. 48,800

D.

Rs. 53,000

Incase of Divorce by mutual consent, on the motion of both the parties made not earlier than __________ after the date of the presentation of the petition and not later than____________ after the said date, if the petition is not withdrawn in the meantime, court shall, on being satisfied on all grounds pass a decree of divorce declaring the marriage to be dissolved with effect from the date of the decree.

A.

6 months, 12 months

B.

6 months,18 months

C.

12 months, 18 months

D.

12 months, 24 months

Money-Laundering process has __________ stages.

A.

Two

B.

Three

C.

Four

D.

Infinite

Receipts from TV serial shooting in farm house is __________________

A.

Non agricultural income

B.

Agricultural income

C.

Salary Income

D.

Business Income

X Ltd. has failed to remit the tax deducted at source from annual rent of Rs. 6,60,000 paid to Mr. A for its office building. The said rent is

A.

fully allowable as a business expenditure

B.

not allowable in view of Section 40(a)(I)

C.

allowable to the extent of 50%;

D.

none of the above

Compulsory audit of account is required u/s 44AB of IT, if the total sales/ turnover exceeds _______

A.

Rs. 10,00,000

B.

Rs. 40,00,000

C.

Rs 60,00,000

D.

Rs. 1,00,00,000

A High Net Worth Individual (HNI) should hold at least _______ in liquid financial assets.

A.

$1 million

B.

$5 million

C.

$10 million

D.

$50 million

There are __________ types of Insurance policies which are used in Estate Planning.

A.

Two

B.

Three

C.

Four

D.

No limit on the types of Insurance Policies

________ plan involves only Business assets.

A.

Financial

B.

Succession

C.

Estate

D.

Contingency

High Net Worth Individuals can dispose of their money in______ ways. From the standpoint of the wealth holder,__________ is the most important of all.

A.

Three, Personal Consumption

B.

Three, Philanthropy

C.

Four, Personal Consumption

D.

Four,Philanthropy