Question
What happens if the purpose of a trust becomes unlawful
after its creation? ÂSolution
According to Section 6 of the Indian Trusts Act, 1882, a trust becomes void if its purpose becomes unlawful after its creation due to changes in the law or other circumstances. The property is returned to the settlor or their legal representatives. Â
Fixed assets are held by business for __________
ABC Ltd., a manufacturing company, undertook a series of transactions during the financial year 2024–25. It purchased a new plant worth ₹1,000 lakh ...
Under which section of the Income Tax Act, 1961, can an individual claim a deduction for the payment of Medical/Health Insurance Premium?
Which of the following is NOT a best practice under Green Computing?
An Indian citizen who stays in India for less than how many days during a financial year is considered a Non-Resident Indian (NRI)?
When shares are issued by a company to its employees or its directors, either at a discount or for consideration other than cash, for providing know-how...
An enterprise consumes 25,600 units of a component annually. The order cost is ₹600 per order, and carrying cost is ₹12/unit/year. A supplier offers...
In which of the following cases should an investor buy a bond?
A ________ is not an actual contract but it resembles a contract. In other words, it is a contract in which there is no intention on part of either part...
What is the standard TDS rate applicable to interest on securities as per Section 193 of the Income Tax Act, 1961?
Relevant for Exams:
