RETAIL BANKING : QUIZ - 7

RETAIL BANKING : QUIZ - 7

Professional Development

20 Qs

quiz-placeholder

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RETAIL BANKING : QUIZ - 7

RETAIL BANKING : QUIZ - 7

Assessment

Quiz

English

Professional Development

Hard

Created by

Kireet Pomal

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

1. An individual took a loan of rs 25lakh for purchasing a flat for self-occupation on 30/03/2015 & paid rs 2,20,000 towards interest during F.Y. 2016-17. The maximum amount of interest which he can claim as a deduction would be_______.
a) Rs 150000
b) Rs 120000
c) Rs 200000
d) Rs 30000

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

2. Husband and wife jointly raise a loan in April 2014 for constructing a house for self occupation. The construction was completed in July 2015 they have been paying the housing loan installments on 50:50 basis from their respective incomes. During F.Y. 2016-17 they paid interest of Rs. 425000. The minimum interest which each of them can claim as deduction is _______.
a) Rs 100000
b) Rs 200000
c) Rs 150000
d) Rs 175000

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

3. An individual took a loan of Rs. 10 lakh for purchasing a plot of land during F.Y. 2010-11 and has paid around Rs. 110000 towards interest and around Rs. 57000, towards principal during F.Y.2016-17. He has not made any other contribution U/s 80C, 80CCC, 80CCD. He will be able to claim deduction of _________.
a) Rs 150000
b) Rs 57000
c) Rs 207000
d) Rs 0(nil)

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

4. In case of home loan in joint names, the tax benefits get divided among owners.
a) True
b) False

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

5. NRI earns an additional taxable income from India apart from the salary earned abroad, then he is eligible to claim tax exemption for the home loan repayment as available for resident home loan.
a) True
b) False

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

6. Short term capital asset means a capital asset held for less than ____ immediately prior to the date of transfer.
(a) 24 months
(b) 12 months
(c) 6 months
(d) 36 months

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

7. By applying rule72, rupee will double in nine years if the rate of interest is _______%p.a.
a) 18%
b) 9%
c) 8%
d) 6%

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