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Free GLO_CWM_LVL_1 – Chartered Wealth Manager (CWM) Global Examination Practice Test Question

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Showing 4–6 of 20 questions

Question 4 (Exam Pool A)

In case where amount of wealth tax exceeds one hundred thousand rupees rigorous imprison-ment for a term not be less than …………

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    One month which may extend to one year

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    Only fine

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    Six months which may extend to 7 years

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    On year to 10 years


Question 5 (Exam Pool B)

The registration of a charitable trust can be cancelled under Section 12AA of the Incometax Act, 1961 by —’

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    Assessing Office;

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    Commissioner of Income-tax;

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    Chief Commissioner of Income-tax;

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    Central Board of Direct Taxes.

Question 6 (Exam Pool D)

How much loan can be given from PPF account in the year 2006-07?

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    25% of the PPF balance in the year 2004-05

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    25% of the PPF balance in the year 2005-06

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    25% of the opening balance as on 01-04-06

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    None of the above