The 'Section 80EEB' deduction is for: MCQ with Answer and Explanation

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The 'Section 80EEB' deduction is for:

A. Electric vehicle loan interest

B. Housing loan interest

C. Education loan

D. Medical insurance

Answer: Option A

Solution (By JKSSB Mock Tests)

Section 80EEB provides deduction up to ₹1,50,000 on interest paid on loan for purchase of electric vehicle.

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

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Practice More Accountancy and Book Keeping Questions

Question #1

The due date for filing GSTR-1 (monthly) is:

A. Last day of month

B. 20th of next month

C. 10th of next month

D. 11th of next month

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Correct Answer: Option D

Explanation:
For monthly filers, GSTR-1 is due on 11th of the following month.

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

Question #2

The 'Operating Profit' is calculated as:

A. Gross profit - Operating expenses

B. EBITDA - Depreciation

C. Sales - Cost of goods sold

D. Net profit + Interest

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Correct Answer: Option A

Explanation:
Operating profit = Gross profit - Operating expenses (administrative, selling).

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

Question #3

The 'Insurance Regulatory and Development Authority of India' (IRDAI) regulates:

A. Banking

B. Pension

C. Capital markets

D. Insurance sector

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Correct Answer: Option D

Explanation:
IRDAI is the insurance sector regulator.

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

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