Goods and Services Tax (GST) was introduced in Singapore in ____________
There are ____________ possible ways of Transferring Property.
___________________ is not entitled to the intestate’s property.
Which of the following are the rights of the beneficiaries?
Which of the following statement(s) about Nil Rate Band is/are correct?
In US, GST exemption limit for 2013 is _______________ and the Estate and Gift tax for the same year is __________.
A trust not created by a will can be revoked only
Which of the following transaction /transactions is/are an example of the Layering Stage of Money Laundering?
US citizens or permanent resident who has established a foreign tax home and has met certain qualifications can elect to exclude annual foreign earned income up to _________from taxable income in 2013.
A _______________ is written in the Will-maker’s own handwriting.
Shri Ganjarwala Charitable Trust (Regd.) submits the particulars of its income/outgoing for the previous year 2009-2010 as below:
The trust spends Rs. 2,77,500 during the previous year 2009-2010 for charitable purposes. In respect of Rs. 5,20,000, it has exercised its option to spend it within the permissible time-limit in the year of receipt or in the year, immediately following the year of receipt.
The trust spends Rs. 2,00,000 during the previous year 2009-2010 and Rs. 1,00,000 during the previous year 2010-2011.
Compute the tax payable on the income of the trust.
In UK, if the donor survives for _______ years after making the gift, it becomes exempt from Inheritance Taxes.
Which of the following statement(s) about partition of HUF is/are correct?
Mr. Shikar wants to invest his savings in an account that pays an interest rate of 9.25% p.a. compounded annually at different ages of his son whose current age is 4 years. Please calculate for him the Future Value of these investments when his son turns 18.
In Singapore, the deadline for filing personal tax return is _________.
Which of the following statement(s) is/are correct?
The Hire Purchase System is regulated by the Hire Purchase Act ________
A father and his _________________ can also form an HUF.
Which of the following incomes are not included for computation of taxable income of a Trust/ Society?
Which of the following statement(s) about Living Trust is/are correct?
Which of the following trusts is considered invalid by the courts?
As per the Societies Registration Act, no society shall be dissolved unless ______________ of the members shall have expressed a wish for their votes delivered in person or by proxy, at a general meeting convened for the purpose.
________________ is a popular mode of transfer of property to God or Almighty, under the Mohammedean Law.
A person purchased certain property in the name of his minor son and subsequently resold it while the son was minor. This sale is ___________________
______________ of Income Tax Act,1961 provides for the Registration of a Charitable Trust.
A Public charitable or religious institution can be formed either as a Trust or as a Society or as a Company registered under _____________ of the Companies Act.
Which of the following statement(s) about Inheritance Tax is/are correct?
A trust which is created and operating during the Grantors lifetime is called________________
Which of the following is/ are disadvantage(s) of a Will?
Under _______________ of the Transfer of Property Act, a transfer of property can legally be made for the benefit of an unborn person.
To be qualified as a Simple Trust which of the following conditions has to be met?
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.
According to ________________ of the Indian Trusts Act, a Trust may be created for any lawful purpose.
Under provisions of _________________ it is provided that the profits and gains of business of a private trust is chargeable to income tax at the maximum marginal rate with effect from Assessment Year 1985-1986.
Which of the following statement(s) about Estate duty is/are correct?
Which of the following is/are advantage(s)of Living Trust?
Which of the following statement(s) about Ancillary Probate is/are false?
Who needs an Estate Plan?
What is the ultimate goal of Estate Planning?
Which of the following is/are benefit(s) of Business Succession Planning?
Which of the following events does not require a Estate Planner to revise his plan?
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.
A will can be made by anyone above _____ years of age in India.
You are an Estate Planner. Mr. Arun Mittal, a HNI client asks you to explain him the number of ways to dispose of his wealth. You explain to him about the three ways of disposing wealth. He further asks you to give ranking to the methods-from most preferred to least preferred. You tell Mr. Arun that the correct order is _________________.
__________ is an influential person who knows you favorably and agrees to introduce or recommend you to others.
________ plan involves only Business assets.
Incase of Policies issued by the LIC, _______________ days of grace are allowed for monthly premiums.
In case one wants to sell his/her business interest __________ and __________ are not appropriate.
There are__________ methods of Business valuation.Out of these methods,___________ method applies discount rate to determine the valuation of the business.
Which of the following statement(s) about ‘Whole Life Insurance’ is/are correct?
Which of the following statement(s) about Minute Book is/are correct?
Which of the following statement is true?
Estate planning as a process includes?
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 _______________.
Saptarshi acquired shares of G Ltd. on 15.12.98 for Rs. 5 lacs which were sold on 14.6.11 for Rs. 19 lacs.
Expenses on transfer of shares Rs. 40,000. He invests 8 lacs in the bonds of Rural Electrification. Corporation Ltd. on 16.10.2011. Compute capital gain for the assessment year 2012-13.
In_________ type of arrangement, the mortgagor binds himself to repay the mortgage money on a certain date.
In case of non-resident, who is carrying on shipping business, his Indian income shall be presumed to be:
Which of the following statement(s) about Hindu Adoption and Maintenance Act, 1956 is/are correct?
Lokesh purchased a flat on 1-4-1996 for Rs. 10,00,000/-. He sells the same flat on 1-10-2006 for Rs. 25,00,000/-. As a CTEP calculate the Indexed Cost of Acquisition on which capital gain would be calculated. (The CII of year 1995-96 is 281, for year 1996-97 is 305, for year 2005-06 is 497 and for year 2006-07 is 519).
Deduction under section 80QQB is allowed in respect of royalty income to:
In case of self occupied property, higher deduction u/s24(b) for interest on loan for construction can be claimed if borrowing was made
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.
If the adoption is by a male and the person to be adopted is a female, the adoptive father should be at least _______________ older than the person to be adopted. In case, the adoption is by female and the person to be adopted is a male, the adoptive mother should be at least_________ older than the person to be adopted.
For claiming exemption u/s 54G, the assessed shall acquire the new asset within:
In context of Hindu Adoptions and Maintenance Act,1956 if a person has more than one wife living at the time of adoption
Compulsory maintenance of account is required u/s 44AA of IT, if the gross receipt/ total sales exceed _______
Which of the following statement(s) about ‘Knock for Knock Agreement’ is/are correct?
Which of the following statement(s) about Employee Provident fund 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.
X Ltd. has failed to remit the tax deducted at source from annual rent of Rs. 6,60,000 paid to Mr. A for its office building. The said rent is