CA Final DT – Part I – Chapter 11 – Deductions from Gross Total Income MCQs – Set I

Exempt incomes are covered under Section-

Chapter VI –A contains –

Deductions will not be permissible in which of the following situations?

Deductions from Gross Total Income are covered under Sections –

Aggregate deductions under Chapter VI A should not exceed –

Which the following statements are correct?
i)Assessee can have loss as a result of deduction under Chapter VI A
ii)Assessee cannot have loss as a result of deduction under Chapter VI A
iii)Assessee can claim to carry forward loss arising from Chapter VI A deductions for the purpose of set off against his income in subsequent year.
iv)Assessee cannot claim to carry forward loss arising from Chapter VI A deductions for the purpose of set off against his income in subsequent year.

Which of the following statements is/are correct?
i)An assessee who has claimed deduction u/s 35AD cannot claim deduction under Chapter VI A
ii)An assessee who has claimed deduction Chapter VI A cannot claim deduction under u/s 35AD
iii) An assessee can claim deductions under both Chapter VI A and Section 35AD
iv) None of the above

Which of the following Sections require compulsory filing of return of income on or before due date specified u/s 139(1), for the purpose of claiming deduction?

Which of the following statements are true? In order to claim deduction u/s 80IB-

Which of the following statements is true?

“Total income computed in accordance with the provisions of the Act” implies-
(i)That deductions under appropriate computation section have already been given effect to
(ii) Income of other persons, if includible under Sections 60 to 64 has been included
(iii) Intra head and/or inter head losses have been adjusted
(iv) Unabsorbed business losses, unabsorbed depreciation etc have been set off

Deduction under section 80 C is applicable to –

Maximum permissible deduction u/s 80 C is –

Which of the following receipts from Life Insurance Policy fall under the scope of exemptions u/s 10(10D)?

In respect of policies issued between 01/04/2003 and 31/03/2012 deduction available u/s 80 C would be:

In respect of policies issued between 01/04/2012 and 01/04/2013 deduction available u/s 80 C would be:

In respect of policies issued on or after 01/04/2013, where insurance is on life of a person with disability or severe disability referred to u/s 80U, deduction available u/s 80 C would be:

Exemption u/s 10 (10D) would not be available with respect to any ULIP on or after 1/2/2021, if the amount of premium payable exceeds___________ for any of the PYs during the term of such ULIP.

When would exemption u/s 10(10D) be available irrespective of the amount of premium?

Which of the flowing sums received would not be exempt u/s 10(10D)?

Any sum deducted by Central Government from the salary payable of Government employee for securing a deferred annuity or making provisions for his spouse or children is allowed as deduction to such employee to the extent of –

The maximum limit for deposit in Public Provident Fund per annum is-

Mr. Sumesh, resident in India has made the following deposit/payment during P.Y. 2021-22:Contribution to PPF Rs. 90,000/-Insurance premium paid on life of the spouse (policy taken on 1/4/2017) (Assured Value Rs. 2,00,000/-) Rs. 28,000/-What is the deduction allowable under Section 80C for A.Y. 2022-23?

Deduction u/s 80C for payment of tuition fees to any university, college, school or other educational institutions within India for full time education is available for maximum of ____ children

Lock in period for equity shares or debentures subscribed which forms part of eligible issue of capital approved by board is-

As per Section 80CCD, maximum deduction available to a Government employee for his contribution paid to pension scheme notified by Central Government is

As per Section 80CCD, maximum deduction available to a self employed individual for his contribution paid to pension scheme notified by Central Government is

Maximum deduction available in respect of amount deposited by an individual assessee under National Pension Scheme is –

As per Section 80CCD, maximum deduction available to a Government employee for employer’s (Central Government) contribution paid to pension scheme notified by Central Government is

As per Section 80CCD, maximum deduction available to a Government employee for contribution made by an employer other than Central Government, paid to pension scheme notified by Central Government is

The limit of Rs. 1,50,000/- u/s 80CCE applies to –

Payment received by the assessee from National Pension System Trust on account of closure or his opting out of the pension scheme referred to in Section 80CCD is exempt to the extent of-

Payment received by the assessee being an employee from National Pension System Trust on account of partial withdrawal, out of the pension scheme referred to in Section 80CCD is exempt to the extent of-

Aggregate amount of deduction available u/s 80C, 80CCC and 80CCD (1) amounts to ______

Limit on deductions u/s 80C, 80CCC and 80CCD (1) is not applicable to which of the following?

Deduction u/s 80D in respect of insurance premium paid for self, spouse and dependent children is available to an individual assessee to the extent of ________

Deduction u/s 80D in respect of insurance premium paid for self, spouse, and parents any of whom is aged above 60years, is available to an individual assessee to the extent of ________

Deduction u/s 80D in respect of payment towards preventive health check up is available to the extent of –

In order to claim deduction under Section 80D, the expenditure incurred towards preventive health check up to be paid in which of the following modes?

In order to claim deduction under Section 80D, the expenditure incurred towards payment of insurance premium should be made in which of the following modes?

Mr. Yohan, aged 36 years, paid medical insurance premium of 21,000/- during the PY 2021-22 to insure his health of his spouse and dependent children. He also paid medical insurance premium of Rs. 30,000/- during the year to secure the health of his mother aged 64 years, who is not dependent on him. He incurred medical expenditure of Rs. 23,500/- on his father, aged 75 years, who is not covered under Mediclaim policy. His father is also not dependent on him. He contributed Rs. 7,500 to Central Government Health Scheme during the year. Compute the deduction allowable under section 80D for the A.Y. 2022-23.

Deduction in respect of maintenance including medical treatment of a dependant disabled u/s 80DD is available to –

Quantum of deduction available u/s 80DD is –

In case of severe disability, the quantum of deduction available u/s 80DD is –

Mr. Sudhakar, a resident individual deposits a sum of Rs. 55,000 with LIC every year for the maintenance of his disabled grandfather who is wholly dependent on him. The disability comes under the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995. A copy of the certificate from the medical authority is submitted. What is the deduction available under Section 80DD for the A.Y. 2022 -23?

Quantum of Deduction available u/s 80DDB in respect of medical treatment amounts to –

In case the amount is paid in respect of a senior citizen, deduction available u/s 80 DDB would be –

Deduction in respect of Interest on loan taken for higher education is covered –

Which of the following statements are to be true in relation to deduction u/s 80 E?
i) Loan must have been taken for higher education of the individual assessee
ii) Loan can be taken for higher education of the individual assesses relative.
iii) Loan must have been taken from any financial institution
iv) Loan can be taken from a charitable institution.

What is the period for which deduction is available u/s 80E?

Deduction for interest on loan borrowed for acquisition of house property by individual is covered u/s

The conditions to be satisfied in order to claim deduction u/s 80EE, Value of house should be less than or equal to ________ and Loan sanctioned should be less than or equal to ________

Maximum quantum of deduction allowed u/s 80EE amounts to –

In order to claim deduction u/s 80EEA, the stamp duty value of the house for the purpose of which loan is taken should not exceed ______________

Maximum quantum of deduction available u/s 80EEA amounts to –