A) Sec 51
B) Sec 61
C) Sec 71
D) None of the above

… Answer is C)
Sec 71
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A) Business profession
B) Capital gains
C) Salaries
D) All of the above

… Answer is D)
All of the above
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4. Long term capital gain can be carried forward for

A) 8 subsequent assessment years
B) Indefinitely
C) 6 years
D) None of the above

… Answer is A)
8 subsequent assessment years
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  5. Short term capital loss can be set off in the same assessment year from

A) Long term capital gains
B) Short term capital gold
C) Both
D) None of the above

… Answer is C)
Both
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A) Income other than salary
B) Any head of income
C) Profits of any other specified business only
D) None of the above

… Answer is C)
Profits of any other specified business only
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A) 80
B) 70
C) 60
D) None of the above

… Answer is A)
80
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A) 74(1) & (2)
B) 73(1) & (2)
C) 71(1) & (2)
D) None of the Above

… Answer is A)
74(1) & (2)
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A) Gross
B) Total
C) Individual
D) None of the above

… Answer is C)
Individual
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A) 2,50,000
B) 2,00,000
C) 3,00,000
D) None of the Above

… Answer is B)
2,00,000
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11. Loss from business can’t be set off against…

A. salaries

B. business and profession

C. capital gain

D. None of the above

12. Loss of partnership firm can be set-off only against…

A. salaries

B. capita gain

C. firm

D. None of the above

13. Capital loss can be carried forward for a maximum period of …

A. 4 subsequent year assessment year

B. 8 subsequent year assessment year

C. 10 subsequent year assessment year

D. None of the above

14. The loss in speculation business can be carried forward only for a maximum period of…

A. 4 subsequent year assessment year

B. 8 subsequent year assessment year

C. 2 subsequent year assessment year

D. None of the above

15. long term capital loss can be adjusted only against

A. short term capital gain

B. long term capital gain

C. both the above

D. None of the above

16. Unabsorbed depreciation can be carried forward for a period of …

A. 8 year

B. 4 year

C. indefinite

D. None of the above

17. Loss from the business of owning and maintaining race horses can be carried forward for a period of…

A. 4 subsequent year assessment year

B. 8 subsequent year assessment year

C. indefinite subsequent year assessment year

D. None of the above

18. Losses of discontinued business of an industrial undertaking after re-establishment or revival can be carried forward up to…

A. 4 subsequent year assessment year

B. 8 subsequent year assessment year

C. indefinite subsequent year assessment year

D. None of the above

19. Treatment of losses after succession comes under

A. sec 78(2)

B. sec 77(2)

C. sec 76(2)

d. None of the above

20 . Loss from other sources can be carried forward for …. Subsequent year

A. 4 year

B. 8 year

C. No carried forward

D. None of the above