Solar heights is engaged in the business of generation and generation and distribution of power. It has the option no claim depreciation on __________
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Question 2 of 30
2. Question
1 points
Category: Taxation
Asset acquired by an undertaking engaged in the business of generation or generation and distribution of power, which have been used for less than 180 days, shall be eligible for depreciation @___
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Question 3 of 30
3. Question
1 points
Category: Taxation
GVV Power is an undertaking engaged in the business of generation of power and commenced generating power from 01.06.2018. The option to claim depreciation on WDV has to be exercised by GVV Power before (it is not covered under Transfer pricing provisions)
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Question 4 of 30
4. Question
1 points
Category: Taxation
Terminal depreciation for power generation undertaking can be computed by reducing from sales consideration__________
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Question 5 of 30
5. Question
1 points
Category: Taxation
In which of the following case, depreciation is proportioned on the basis of number of days, for which the assets are used in business ?
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Question 6 of 30
6. Question
1 points
Category: Taxation
Which of the following assessee are eligible for additional depreciation ?
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Question 7 of 30
7. Question
1 points
Category: Taxation
Which of the following assessee are eligible for additional depreciation ?
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Question 8 of 30
8. Question
1 points
Category: Taxation
Which of the assets are not eligible for additional depreciation ?
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Question 9 of 30
9. Question
1 points
Category: Taxation
Which of the assets are not eligible for additional depreciation?
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Question 10 of 30
10. Question
1 points
Category: Taxation
Additional depreciation is available at the rate of ______ for units which are not engaged in notified backward areas.
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Question 11 of 30
11. Question
1 points
Category: Taxation
In respect of additional depreciation, which of the following statements are correct ?
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Question 12 of 30
12. Question
1 points
Category: Taxation
Sunil Limited, incurred business losses during FY 2018-19 and is wondering whether the claim of depreciation is mandatory for them. Under Income tax Act, claim of depreciation is _
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Question 13 of 30
13. Question
1 points
Category: Taxation
Anil Limited, incurred business losses during FY 2018-19, which was mainly due to depreciation. For what period can unabsorbed depreciation be carried forward ?
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Question 14 of 30
14. Question
1 points
Category: Taxation
In respect of set off and carry forward of current year depreciation, which of the following are true ?
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Question 15 of 30
15. Question
1 points
Category: Taxation
Depreciation on assets, used non exclusively for business is __________
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Question 16 of 30
16. Question
1 points
Category: Taxation
For claiming deduction u/s 33AB, which of the following conditions should be satisfied ?
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Question 17 of 30
17. Question
1 points
Category: Taxation
Deduction u/s 33AB requires deposit of amount with NABARD within earlier of which of the following periods ?
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Question 18 of 30
18. Question
1 points
Category: Taxation
Deduction available u/s 33AB to Alka, engaged in business of growing and manufacturing tea and having pro-fit of Rs.10 lakhs in FY 2018-19, if she deposit Rs.5 lakhs is special account of NABARD on 31st August,2018 shall be (assume she is not covered by Tax Audit)__________
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Question 19 of 30
19. Question
1 points
Category: Taxation
Quantum of deduction u/s 33AB to assessee engaged in growing and manufacturing tea and satisfying specified conditions is _________
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Question 20 of 30
20. Question
1 points
Category: Taxation
Salma liable to tax audit is engaged in a composite business of growing and manufacturing tea and trading of dry fruits. During FY 2018-10, she had following data:
Total Turnover of Business : Rs 200 lakhs
Turnover of Tea business : Rs.150 lakhs
Profits from Business : Rs 50 lakhs
In such a case, profit from tea business shall be Rs._____
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Question 21 of 30
21. Question
1 points
Category: Taxation
Amount of deposited with NABARD or the Deposit Account in context of section 33AB should not be utilized
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Question 22 of 30
22. Question
1 points
Category: Taxation
Samridhi, claimed deduction of Rs. 4 lakhs in FY 2017-18 u/s 33AB after depositing Rs.5 lakhs in special NABARD account on 31st August, 2018. On 01.03.2019, she withdrew Rs.2 lakhs and used it for non-specified purpose. Amount to be considered as income for FY 2018-19 on this account shall be Rs._________
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Question 23 of 30
23. Question
1 points
Category: Taxation
Saarthak, claimed deduction of Rs.4 lakhs in FY 2016-17 u/s 33AB after depositing Rs.5 lakhs in special NABARD account on 31st August, 2017. On 01.05.2018, he withdrew Rs 5 lakhs and used it for purchasing office appliances other than computers. Amount to be considered as income for FY 2018-19 on this account shall be ________
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Question 24 of 30
24. Question
1 points
Category: Taxation
Saarthak, claimed deduction of Rs.4 lakhs in FY 2016-17 u/s 33AB after depositing Rs.5 lakhs in special NABARD account on 31st August, 2017. On 01.05.2018, he withdrew Rs.5 lakhs and used it for purchase of computers to be used in office. Amount to be considered as income for FY2018-19 on this account shall be __________
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Question 25 of 30
25. Question
1 points
Category: Taxation
Samridhi, claimed deduction of Rs. 4 lakhs in FY 2016-17 u/s 33AB after depositing Rs. 5 lakhs in Special NABARD account on 31st August, 2017. On 01.05.2018, she withdrew Rs. 2 lakhs and used it for purchase of plant and machinery in factory, which was sold on 30.06.2018. Amount to be considered as income for FY 2018-19 shall be___
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Question 26 of 30
26. Question
1 points
Category: Taxation
Profits of composite business are disintegrated into agriculture and non-agriculture income under rule__
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Question 27 of 30
27. Question
1 points
Category: Taxation
Any amount deposited with NABARD in context of section 33AB cannot be withdrawn until there is _
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Question 28 of 30
28. Question
1 points
Category: Taxation
Deduction u/s 33ABA is available, provided______
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Question 29 of 30
29. Question
1 points
Category: Taxation
Neil & Co. Private Limited, is engaged in the business of extraction of petroleum and earned profit of Rs.10 lakhs in FY 2018-19. They deposited Rs.5 lakhs in Site Restoration Account on 31st August,2018. The deduction available u/s 33ABA shall be Rs._______
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Question 30 of 30
30. Question
1 points
Category: Taxation
The due date to deposit amount with Site Restoration Account for the purpose of claiming deduction u/s 33ABA is
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