Taxation in Securities Markets Cert. Free Demo Test 7 -

Taxation in Securities Markets Cert. Free Demo Test 7

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Taxation in Securities Markets Cert. Free Demo Test 7

1 / 10

1. If the MF distributor has opted for the composition scheme of service provider, he may be liable to pay GST of ________.

a. 3%

b. 4%

c. 5%

d. 6%

2 / 10

2. The transfer of assets defined under section 2(47) of the IT act includes _________.

a. Redemption of zero-coupon bonds

b. Conversion of asset into stock-in-trade

c. Lending of securities

d. Only 1 and 2

3 / 10

3. The clearing corporations of _______ are the authorized intermediary permitted to lend and borrow securities.

a. NSE

b. BSE

c. MCX

d. Both 1 and 2

4 / 10

4. The dual option warrants are designed to provide the buyer with _______.

a. Potential of capital appreciation

b. Limited downside risk

c. Investment secured by assets

d. Both 1 and 2

5 / 10

5. _______ are issued with detachable warrants and are redeemable after a notified period.

a. Perpetual debentures

b. Participating preference share

c. Sweat equity shares

d. Secured premium notes

6 / 10

6. The option provided under the ESOP scheme confers a right and an obligation on the employee.

a. True

b. False

7 / 10

7. The collective holding of the sponsors should be _______ in REIT for at least 3 years from the date of listing.

a. 10%

b. 15%

c. 20%

d. 25%

8 / 10

8. As per Section 2(ac) of the Securities Contracts (Regulation) Act, 1956 (SCRA), the derivative includes _______.

a. Mutual funds

b. Currency derivatives

c. Commodity derivatives

d. Both 2 and 3

9 / 10

9. If the assessee follows a mercantile system of accounting, interest on securities is taxable on ___________.

a. Cash basis

b. Receipt basis

c. Accrual basis

d. Both 1 and 2

10 / 10

10. The advantage of not computing income on a presumptive scheme is that a person can claim _______.

a. Deduction of all the expenses incurred in connection with the sale

b. Fair value of the security that has been acquired

c. Speculative loss carried forward

d. Only 1 and 2

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Taxation in Securities Markets Cert. Free Demo Test 7

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