The 'Angel Tax' exemption for startups was enhanced to include investments up to: MCQ with Answer and Explanation

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The 'Angel Tax' exemption for startups was enhanced to include investments up to:

A. ₹25 crore

B. ₹50 crore

C. ₹5 crore

D. ₹10 crore

Answer: Option A

Solution (By JKSSB Mock Tests)

Eligible startups can receive angel investments up to ₹25 crore without angel tax.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

The 'Interim Dividend' is declared by:

A. Auditors

B. Shareholders

C. Board of Directors

D. Government

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Correct Answer: Option C

Explanation:
Interim dividend can be declared by the Board of Directors between annual general meetings.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

The 'Return Inward Book' is also known as:

A. Journal

B. Cash Book

C. Purchase Returns Book

D. Sales Returns Book

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Correct Answer: Option D

Explanation:
Returns inward means goods returned by customers, i.e., sales returns.

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Question #3

The 'Letter of Undertaking' (LUT) is used for exporting goods/services without payment of IGST by:

A. Exporters with a good compliance history

B. Only new exporters

C. All exporters

D. Only manufacturers

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Correct Answer: Option A

Explanation:
Exporters can furnish LUT instead of paying IGST and claiming refund.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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