The registration of a charitable trust can be cancelled under Section 12AA of the Incometax Act, 1961 by —’

A. Assessing Office;

B. Commissioner of Income-tax;

C. Chief Commissioner of Income-tax;

D. Central Board of Direct Taxes.

Family Offices provide _____________

A. Specialist advice and planning

B. Investment Management

C. Administration

D. All of the above

A will that is not valid in India except in the case of privileged wills or in the case of Mahomedans

A. Nuncupative Will

B. Contingent Will

C. Holograph Will

D. Concurrent Will

A document proposing to be a will which deliberately executed with all due formalities required for a valid will is called:

A. Holograph will

B. Sham will

C. Duplicate will

D. Concurrent will

The punishment of imprisonment for dishonour of cheques could extend up to:

A. 6 months

B. 9 months

C. 1 year

D. 2 years

Which of the following is not a characteristic of defined benefit plan?

A. Benefit levels are guaranteed

B. These plans are easy to design and explain to employees

C. actuarial assumptions are necessary to determine actual contribution amounts

D. Employer is subject to a recurring annual funding obligation

Employees Provident Fund is applicable to firms employing over _______________ employees

A. 20

B. 15

C. 10

D. 25

What do you mean by deceased to have died intestate?

A. Person died with not estate

B. Receive property from a deceased person

C. Person dies without a will or a valid will

D. Person named in the will to carry out the settlement of an estate

A Foreign Bank is one

A. Whose most of the branches is situated outside India

B. In which at least 40 % shares are held by non resident Indians

C. Which is incorporated outside India

D. None of these

Deduction under section 80-IC is allowed to the extent of:

A. 100% of profits and gains for ten assessment years

B. 100% of profits and gains for ten assessment years in case of any undertaking or enterprise in the States of Sikkim or North Eastern Region and 50% in case of undertaking in Uttaranchal and Himachal Pradesh

C. 100% of profits and gains for ten assessment years in case of an undertaking or enterprise in the States of Sikkim or North Eastern States and 100% of profits and gains for the first 5 assessment years and 25% (30% in case of companies) for next 5 assessment years.

D. None of These

Speculative risk can result in

A. Gain

B. Loss

C. Status Quo

D. All of the above

Onshore wealth management involves ____________

A. Suggesting products and services available across the globe

B. Suggesting products and services available within the client’s country of residence

C. Suggesting products and services available outside the client’s country of residence

D. None of the above