ADMISSION-Chartered Trust and Estate Planner Set 4

There are ______types of Charitable Trust. Out of these, in ________________ the value of assets are protected against inflation as the payouts vary with the asset value.

You are an estate planner. A couple has jointly owned company. They have three children out of which one is disabled. As an estate planner, which Estate planning would you suggest to the couple, so as to enable them to transfer wealth efficiently to their children.

You are an Estate Planner. Your Client asks you that if he wants to give business to his children which method is not appropriate. He further asks you which method can help him control the size of this gift through his will. Your reply would be___________

A salaried individual, aged 45 years, was awarded a car of market value Rs. 6,50,000 by his credit card company in a draw on 20th December 2012. There was no TDS by the company. He has total income from salary of Rs. 8,45,000 in the previous year 2012-13. He saved a total of Rs. 1,80,000 under different investment instruments eligible for exemption u/s 80C and Rs. 25,000 was paid by him on 5th January, 2013 towards his health insurance policy. Find his tax liability for AY2013-14.

The interest payable for a housing loan outside India is not allowed as a deduction U/S 24 (1) while computing the income from house property. The given statement is

As per Payment of Gratuity Act, Employees are entitled to ___________ terminal wages as gratuity for each year of completed service or part thereof in excess of 6 months. Seasonal employees are entitled to __________ terminal salary for each season of service.

______________ means a contract in which advance payment is made for good to be delivered later on. ____________ is a special kind of partnership where one partner gives money to the other for investing it in a commercial enterprise.

In context to Hindu Marriage Act, 1955 what is "Sapinda Relationship"?

__________ is a arrangement wherein lessee and lessor agree to a payment schedule where for a set period of time, there is no payment and penalty.

In_________ type of arrangement, the mortgagor binds himself to repay the mortgage money on a certain date.