The 'ICAI' issues: MCQ with Answer and Explanation
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Question #1
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The 'Asset Ceiling' in defined benefit plans under Ind AS 19 refers to:
Correct Answer: Option D
Explanation:
Ind AS 19 restricts the recognised asset to the economic benefits available.
Ind AS 19 restricts the recognised asset to the economic benefits available.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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The 'Swachh Bharat Cess' was a cess on:
Correct Answer: Option B
Explanation:
Swachh Bharat Cess at 0.5% was levied on taxable services before GST.
Swachh Bharat Cess at 0.5% was levied on taxable services before GST.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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Under the Income Tax Act, the deduction under Section 80D for health insurance premiums paid for self, spouse, and dependent children is:
Correct Answer: Option C
Explanation:
Section 80D allows a deduction of up to ₹25,000 for health insurance premiums paid for self, spouse, and dependent children (if below 60 years). For senior citizens, the limit is ₹50,000.
Section 80D allows a deduction of up to ₹25,000 for health insurance premiums paid for self, spouse, and dependent children (if below 60 years). For senior citizens, the limit is ₹50,000.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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