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DT Paper 2017

1. When Mr. Balu makes a royalty payment to Dr. Peter from Sweden for utilizing know-how in India, this payment is classified as:

Exempt from taxation Accruing in India Accruing in Sweden Received in India

2. For a foreign company with a total income exceeding ₹1 crore but less than ₹10 crores, the applicable surcharge is:

5% 12% 2% 1%

3. Mr. Hari, a resident of India, received ₹11 lakhs as dividends from Indian companies. This dividend is:

Exempt from taxation Taxable at regular rates Taxable at the maximum marginal rate Taxable at 10%

4. If an employee receives a payment upon the closure of a national pension system trust, it is:

Chargeable to tax Exempt from tax 40% exempt from tax 60% exempt from tax

5. Contributions made by an employer to an approved superannuation fund become taxable as a perquisite when the contribution exceeds:

₹1,50,000 ₹1,00,000 ₹50,000 ₹20,000

6. Shares held in an unlisted company are considered long-term capital assets if the holding period exceeds:

36 months 24 months 12 months 6 months

7. Long-term capital gains from the transfer of unlisted securities by a non-resident or foreign company are taxed at:

10% 20% 30% 40%

8. An individual can claim a deduction for interest on a housing loan for their first residential house under section 80EE, up to a maximum of:

₹30,000 ₹50,000 ₹1,50,000 ₹2,00,000

9. A start-up can claim deductions under section 80-IAC for a maximum of ______ consecutive years starting from the year of incorporation:

1 2 3 5

10. If the return of income for the assessment year 2017-18 is filed under section 139(4), the taxpayer can revise the return by:

31.03.2018 31.12.2018 31.03.2019 31.12.2019