Articleship assessment test ICAI – MCQ
Question 1:-
The amount of eligible deduction for premium paid on insurance policy other than contract of deferred annuity for policy issued on or after 1.4.2012 is:
(a) 10% of the capital sum assured
(b) 15% of the capital sum assured
(c) 20% of the capital sum assured
(d) Highest of A, B and C
Question 2:-
Deduction u/s 80CCD is allowed to an individual assessee who is employed by either any employer or:
(a) A central government employee, employed before 01.04.2004
(b) A central government employee, employed before 01.04.2003
(c) A central government employee, employed on or after 01.01.2004
(d) None of the above
Question 3:-
The maximum deduction available u/s 80CCD(1B) is minimum of either actual amount paid or deposited or ____________.
(a) 50,000
(b) 1,00,000
(c) 1,50,000
(d) 2,00,000
Question 4:-
What is the ceiling for deduction u/s 80CCE, in respect of deductions u/s 80C, 80CCC and 80CCD?
(a) 50,000
(b) 1,00,000
(c) 1,50,000
(d) 2,00,000
Question 5:-
______________ covers deduction in respect of medical insurance premia.
(a) Section 80CCD
(b) Section 80D
(c) Section 80E
(d) Section 80U
Answers
1. (a) 10% of the capital sum assured
2. (c) A central government employee, employed on or after 01.01.2004
3. (a) 50,000
4. (c) 1,50,000
5. (b) Section 80D