
set off after 13 slide
Quiz
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Other
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1st - 5th Grade
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Practice Problem
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Medium
Deepika Revdekar
Used 3+ times
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9 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
1. Choose the correct answer from the following:
A. Loss from business of owning and maintaining Racehorses can be setoff against any income.
B.Speculation business loss can be set off only against speculation business income
C. Loss from lottery, card games etc. can be set off against any income.
1. D. Long-term capital loss can be set off against long-term or short-term capital loss.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2. Loss arising under the head capital gain cannot be set-off against-
A . Income under the head salaries.
B.Income under the head "Profits and gains of business or profession".
C. Income under the head house property
D. All of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3. Loss arising from specified business can be set-off from -
A. General business profits
B.Speculation business profits
C. Both general business profits and speculation
D. Profits of specified business profit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4. Short-term capital loss can be set-off against:
A. Short term capital gain
B. Long-term capital gain
C. Income under any other head
D. both (a) & (b)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5. Loss incurred in activity of owning and maintaining race horses can be set-off against only:
A. Any Income under the head 'Income from other Sources'.
B. Only income from owning and maintaining race horses.
C. Income from speculation business.
D. Income under the head house property.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
6. Mr.Q has profit from speculation business Rs.`80,000; Profit from business A Rs.`1,00,000; Loss from business B Rs.`1,50,000
find out his Gross total income for Assessment year 2022-23.
A. Rs.`80,000
B. Rs.`1,00,000
C. Rs.`1,50,000
D. Rs.`30,000
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
7. Inter source adjustment – under same head u/s 70 is also known as Intra head adjustment
a. true
b. false
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