Income Tax And Corporate Tax - Practice Test

(A) Assertion (A) is correct and Reasoning (R) is the right explanation of (A)

(B) Assertion (A) is correct but Reasoning (R) is not the right explanation of (A)

(C) Both Assertion (A) and Reasoning (R) are correct independently and (R) may be considered as an explanation of (A)

(D) Both Assertion (A) and Reasoning (R) are incorrect

(A) Assertion (A) is correct and Reasoning (R) is the right explanation of (A)

(A) Fully exempt in the hands of unit holders

(B) Fully taxable in the hands of unit holders

(C) Fully exempt in the hands of individual unit holders and fully taxable in the hands of institutional unit holders

(D) Included in the gross total income but a deduction is allowed under section 80L

(A) Fully exempt in the hands of unit holders

(A) Expected rent

(B) Actual rent received or receivable

(C) All of the above

(D) None of the above

(C) All of the above

(A) a-1, b-4, c-3, d-2

(B) a-3, b-4, c-2, d-1

(C) a-3, b-2, c-4, d-1

(D) a-3, b-4, c-1, d-2

(D) a-3, b-4, c-1, d-2

(A) Section 80

(B) Section 88

(C) Section 10

(D) Section 2

(C) Section 10

Income Tax And Corporate Tax - Study Mode