Sample Multiple Choice Questions (MCQ's) for CA Intermediate - Paper 4 - TAXATION Chapter 7: DEDUCTIONS FROM GROSS TOTAL INCOME - For Practice relevant for May/November 23 Examinations

Q:1 An assessee has paid Life Insurance Premium of ₹ 25,000 during the previous year for a policy of ₹ 1,00,000. He shall -

  1. not be allowed Deduction u/s 80C
  2. be allowed Deduction u/s 80C to the extent of 10% of the capital sum assured le. ₹ 10,000
  3. be allowed Deduction for the entire premium as per the provisions of Section 80C

Answer: 2

Q:2 For claiming Deduction u/s 80C in respect of P.P.F, the contribution must be paid by the individual in the P.P.F. account of -

  1. himself only
  2. himself and spouse
  3. himself, spouse or children

Answer: 3

Q:3 Deduction under Section 80C for tuition fee shall be allowed if such fee is paid to:

  1. any university, college, School or other educational institution situated within India or outside
  2. any university, college, School or other educational institution situated within India

Answer: 2

Q:4 The payment for insurance premium under Section 80D should be paid -

  1. in cash
  2. by cheque
  3. in any modes other than cash

Answer: 3

Q:5 Deduction u/s 80E in respect of repayment of loan taken for higher education shall be allowed to -

  1. an individual assessee only
  2. an individual or HUF
  3. an individual or HUF who is resident in India

Answer: A

Q:6 Subscription to Notified Bonds of NABARD would qualify for deduction u/s 80C.

  1. True
  2. False

Answer: 1

CA Intermediate TAXATION - MCQ for Chapter 8 -   

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