Free AAFM CTEP Exam Actual Questions

The questions for CTEP were last updated On Nov 18, 2024

Question No. 1

The list of managing body needs for be fixed with Registrar of Joint Stock companies

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Correct Answer: C

Question No. 2

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 _________________.

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Correct Answer: A

Question No. 3

"From the following information of assets assets and liabilities, the taxable wealth for:

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Correct Answer: A

Question No. 4

______________ of the Income Tax Act provides for the registration of a Charitable Trust. _____________ of the Income Tax Act contains the provision that the profits and gains of the business carried on by a charitable trust would be fully exempt from tax if it is attains the objects of the trust.

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Correct Answer: A

Question No. 5

During the PY 2008-09 a charitable trust earned an income of Rs. 5 lakh out of which Rs. 3 lakh was received during the PY 2008-09 and the balance Rs. 2 lakh was received during the PY 2010-2011.To claim full exemption of Rs. 5 lakh in the PY 2008-09, state:

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Correct Answer: A