Quiz / Concept check
Detailed Explainer quizzes
One quiz per Detailed Explainer topic. The questions test whether the key rules (thresholds, conditions and exceptions) have stuck after reading the article. Start here if a topic is new to you.
- quiz sets
- 9
- quiz sets
- questions
- 62
- questions
PGBP — Section 38 · Medium
Deemed Profits and Gains of Business or Profession
Test your understanding of Section 38 of the IT Act 2025 — covering balancing charges, recovery of bad debts, scientific research assets, loan waivers, and withdrawals from special reserves.
14 questions
Capital Gains — Sections 69 & 196 · Medium
Taxation in Case of Buyback of Securities
Test your understanding of how share buybacks are taxed — nil tax on the company, capital gains in shareholders' hands, and the Section 196 additional tax that applies when the seller is a promoter.
6 questions
Special Income — Section 2(40)(e) · Medium
Deemed Dividend — Loans by Closely Held Companies
Test your understanding of when a loan from a closely held company becomes deemed dividend, the 10% and 20% thresholds, the accumulated-book-profits cap, and why repayment does not reverse the tax consequence.
6 questions
Agricultural Income — Section 2(5) & Rules 270–271 · Medium
Agricultural Income — Exemption, Bifurcation & Partial Integration
Test your understanding of what qualifies as agricultural income, how Rule 270 splits field-to-factory income at the FMV pivot, the fixed percentage splits under Rule 271 for Tea/Coffee/Rubber, and how partial integration raises the effective tax rate.
6 questions
Business & Profession — Section 29 · Medium
Employer Deductions for Employee Welfare — PF, NPS & Gratuity
Test your understanding of Section 29 — NPS deduction limit (raised to 14%), the fund-approval condition for PF and gratuity, the strict ITR-due-date rule for employee contributions, and the Section 29(3) bar on informal fund creation.
6 questions
Business & Profession — Section 44 · Medium
Preliminary Expenses — Amortisation of Pre-Commencement Expenditure
Test your understanding of Section 44 — what qualifies as a preliminary expense, amortisation over 5 years, the 5% cap (cost of project vs capital employed), why share premium is excluded (Berger Paints SC ruling), and the Form 5/Form 6 compliance requirements.
6 questions
Capital Gains — Section 90(7) · Hard
Cost of Acquisition of Shares — The Grandfathering Rule
Test your understanding of how Section 90(7) steps up cost to FMV on 31 Jan 2018, the three FMV cases (listed/not-listed/unlisted MF), the two-part COA formula, and the 12.5% LTCG rate with ₹1.25 lakh exemption.
6 questions
Capital Gains — Section 77 · Hard
Slump Sale — Tax on Transfer of Undertaking
Test your understanding of what constitutes a slump sale, the 3-year LTCG threshold, the FMV computation under Rule 53 (higher of FMV 1 and FMV 2), Net Worth as the cost of acquisition, and the Form 28 compliance requirement.
6 questions
Business & Profession — Section 46 · Hard
Specified Business Deduction — 100% Capital Expenditure Write-Off
Test your understanding of Section 46 — the 14 eligible businesses, excluded expenditures (land, goodwill, financial instruments, cash payments), the no-depreciation trade-off, 8-year lock-in, loss set-off rules, and the claw-back formula.
6 questions