Practice Set - 1 | Practice Set | NISM Series VIII: Equity Derivatives Certification Examination

Question 1

Loss from derivatives can be carried forward for how many years?

Question 2

Which penalty applies for not maintaining books?

Question 3

Which tax is applicable on derivative trading profits?

Question 4

Which tax return form is used for business income?

Question 5

Which accounting method is generally used by traders?

Question 6

Income from derivative trading is generally classified as:

Question 7

Which document helps in calculating derivative turnover?

Question 8

Derivative trading is considered speculative if:

Question 9

Which income is taxed at slab rates?

Question 10

Advance tax is required when:

Question 11

Which compliance ensures correct tax filing?

Question 12

Which type of loss cannot be set off against business income?

Question 13

Turnover in derivatives is calculated based on:

Question 14

Which income head includes derivative profits?

Question 15

Which books of accounts are required for derivative traders?

Question 16

Which tax audit requirement applies if turnover exceeds prescribed limit?

Question 17

Which expense can be deducted from derivative income?

Question 18

Which type of loss from derivatives can be set off against other income?

Question 19

Which factor determines audit applicability?

Question 20

Practice Set - 1