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Question 1

Deduction u/s 80-IC regarding special provisions for enterprices in special catogries states is allowed to the extent of

A : 100% of profits and gains for ten assessment years

B : 100% of profits and gains for ten assessment years in case of any undertaking or enterprise in the States of Sikkim or North Eastern Region and 50% in case of undertaking in Uttaranchal and Himachal Pradesh

C : 100% of profits and gains for ten assessment years in case of any undertaking or enterprise in the States of Sikkim or North Eastern States and 100% of profits and gains for the first 5 assessment years and 25% (30% in case of companies) for next 5 assessment years.

D : None of the these

Answer: C

Question 2

A trust created under the Married Woman Property Act, is an example of ________________.

A : Express Trust

B : Dynasty Trust

C : Constructive Trust

D : Implied Trust

Answer: C

Question 3

What is the full form of EITC?

A : Earned Income Tax Credit

B : Earned Income Taxable Credit

C : Either of a or b

D : None of the above

Answer: A

Question 4

Competency to contract has been defined under ____________ of the Indian Contract Act,__________

A : Section 1, 1872

B : Section 11, 1872

C : Section 1, 1870

D : Section 11, 1872

Answer: B

Question 5

As per the Ancient Hindu Law, there are ____________ Vedas. Scholars have determined that ___________ is the oldest of the Vedas.

A : Four, Atharva Veda

B : Four, Rig Veda

C : Three, Atharva Veda

D : Three, Rig Veda

Answer: B

Name:	Chartered Trust & Estate Planner (CTEP)
Exam Code:	CTEP
Certification:	AAFM Certification
Vendor:	AAFM
Total Questions:	475
Last Updated:	Jan 06, 2026

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