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Which of the following is/are the desirable contents of a will?
In US, in the case of an individual the tax is ______________ of the lesser of net investment income or the excess of modified adjusted gross income over the threshold amount.
Tax rate on corporate profits upto 300,000 SGD is ___________.
Which of the following statement(s) about Credit Shelter Trust is/are correct?
Which one of the following statement(s) is/are correct?
In US the exemption amount for Alternative Minimum Tax in the case of estate or trust is _________. The same in the case of married individuals filing a joint return and surviving spouses is ______________.
Where a transfer of value is from a UK-domiciled spouse to a non-UK domiciled spouse, then the exempt transfer is limited to ____________
What is the full form of CLT?
The Hindu Succession (Amendment Act),2005 amended ____________ of the Hindu Succession Act,1956 allowing daughters of the deceased equal rights with the sons.
Which of the following statement(s) is/are False?
Where a transfer of value is from a UK-domiciled spouse to a non-UK domiciled spouse, then the exempt transfer is limited to ________. For annual exemption, each individual can transfer an exempt amount of up to________ per year.
If a Muslim gentleman dies, leaving behind his widow, a sister and a son, then how would the property be distributed?
Which assets are totally except from wealth tax
As per the tax structure in the UK, Inheritance Tax will be due at ____________ on the amount over the nil rate band.
In Singapore, if the dependent (aged parent) is not less than 55 years of age living with his son in the same household and whose income was not more than $4,000 in that year, deduction of ___________ is allowed in such a case.
Which of the following transaction /transactions is/are an example of the Layering Stage of Money Laundering?
__________________ are sometimes confused with Balloon payment Mortgages.
In Singapore, the deadline for filing personal tax return is _________.
As per Payment of Gratuity Act, Gratuity shall be payable to an employee after he has rendered continuous service for not less than __________
Registration of Power of Attorney is __________in India. If Power of Attorney is in respect of immovable property of value more than __________ it must be registered.
Full form of IRA is_____________
_____________ allows you to contribute cash but you will not receive tax deduction at the time of contribution.
While preparing a Will, the person who is making the Will must declare ________ that he is making the Will in his full senses and free from any kind of pressure. Once the testator completes writing the Will, he must the sign the Will very carefully in presence of at least __________independent witnesses.
There are ______ steps in Selling process. The last step in Selling Process is ____________.
As per the Payment of Gratuity Act, the employer shall pay the amount of gratuity within _________.
There are four general categories of charitable gifts for donors and non-profits to consider. Out of these________ and ____________ require no contracts, trusts, trustees or special income tax returns. On the other hand, for __________ and _____________most donors and non-profits will need significant level of financial sophistication.
What is Probate?
As per Employee Provident Fund, a member can withdraw________ of the amount of provident fund at credit after attaining the age of 54 years or within one year before actual retirement or superannuation whichever is later.
What is the full form of DIN?
Which of the following comes under Non-Financial Goals of Estate Planning?
Estate Planning Process is eight-step procedure that a manager has to follow. The Eight Steps are as given below (not in any order)
The correct order is
You are an Estate Planner. Your Client asks you that if he wants to give business to his children which method is not appropriate. He further asks you which method can help him control the size of this gift through his will. Your reply would be___________
You have just started your Estate Planning firm. Your friend who is into Estate Planning since 5 years explains you that an Ideal Estate Planning Prospect is one who is aged ___ or over and are _______________.
Which of the following is essential for contract?
You are an Estate Planner. As part of the Estate Planning process, you require the client to fill up ‘Estate Planning Checklist and Data Gathering form’. The client calls you to understand what are Schedule A and Schedule C attached to the form.You explain to him/her that Schedule A is for _______ and Schedule C is for__________
In case of Amputation through shoulder joint, what is the Percentage of Compensation given (as per Workmen’s Compensation Act)?
As per Muslim Law, if the husband is missing for _________ the wife may file a petition for the dissolution of her marriage. __________ of Dissolution of Muslim Marriages Act provides that that where a wife files petition for divorce under this ground, she is required to give the names and addresses of all persons who would have been the legal heirs of the husband on his death.
Which of the following statement(s) about Money Laundering is/are correct?
____________ means excess, increase or addition according to Sharia’ah Terminology. Bahrain has over _________ financial institutions with a wide range of activities including Islamic Insurance.
As per Hindu Adoptions and Maintenance Act,1956 a female Hindu can make adoption in which of the following cases
Deduction under section 80QQB is allowed in respect of royalty income to:
The income of any university or other educational institution existing solely for educational purposes and not for the purposes of profit is exempt under clause (iiiad) of Section 10(23C) if the aggregate annual receipts’ of such university or educational institution do not exceed
______________ is the final stage in the process of 'Money Laundering' at the International Level.
In case of Loss of Thumb, what is the Percentage of Compensation given (as per Workmen’s Compensation Act)?
Manish has two house properties. Both are self occupied. The annual value of:
Receipts from TV serial shooting in farm house is __________________
Which of the following statement(s) about ‘Knock for Knock Agreement’ is/are correct?
Which is not the condition for getting superannuation fund approved?
The employer had purchased a car for Rs. 3,00,000 which was being used for official purposes. After 2 year 6 months of its use, the car is sold to R, the employee, for Rs. 1,20,000. The value of this perquisite shall be __________.
__________ is a arrangement wherein lessee and lessor agree to a payment schedule where for a set period of time, there is no payment and penalty.
Deduction u/s 80-IC regarding special provisions for enterprices in special catogries states is allowed to the extent of:
With respect to Workmen’s Compensation Act, if distinction is made on the ground of duration of incapacity it may extend to
Gift received is not taxable in hands of
Find out the taxable value of perquisite from the following particulars in case of an employee to whom the following assets held by the company were sold on 1.8.2012.
The assets were put to use by the company from the day they were purchased.
For Registration of Charitable Trust an application should be submitted with Covering Letter, Court Stamp of ___________ and Certified True Copy of Trust Deed. The application should be made within _________ of creation of Trust. The application should be in Form as specified in _____________ under ____________ and duly notarized.
What is the full form of SBT?
Which of the following statement(s) about Investment Trust is/are correct?
_____________ of the Income Tax Act,1961 contains the provision that the profits and gains of the business carried on by a Charitable Trust would be fully exempt from tax.
Which of the following statement(s) about Uniform Gifts to Minor Act (UGMA) is/are correct?
Competency to contract has been defined under ____________ of the Indian Contract Act,___________
Which of the following Trust is employed by the law as an “Equitable Remedy”?
An Oral Trust is deemed to be a written trust if a statement in writing is forwarded to the Assessing Officer within _________________ from the date of declaration of the trust.
Which of the following incomes are not included for computation of taxable income of a Trust/ Society?
Which of the following statement(s) about Private Trust is/are correct?
Which of the following is/are ancillary benefit(s) of Discretionary Family Trust?
A Grantor Trust is never a _________________ Trust.
Which of the following is/are disadvantage(s) of Trust?
______________ of Income Tax Act,1961 provides for the Registration of a Charitable Trust.
________________ is an informal type of Trust that is created during the lifetime of the grantor by depositing money into an account at a bank or other Financial Institution in the grantor’s name as the Trustee for another person.
Which of the following statement(s) about beneficiary is/are correct?
