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Deduction under section 80QQB is allowed in respect of royalty income to:
A. an individual who is resident in India and who is either an author of a book or a joint author of the book
B. None of these
C. an individual who is resident in India and who is an author of a book
D. an individual who is an author of a book
Answer: A

Section A (1 Mark)
In which of the following is the loss unlimited?
A. Long put
B. Long call
C. Short call
D. Short put and Short call
Answer: C

All of the following statements regarding management reserves are true EXCEPT:
A. Management reserves are allowance for unplanned, but potentially require to changes
to the project scope and cost
B. Any gap at the end of a project between the funds allocated and the cost baseline and cash flow mounts shows the amount of the management reserve that was not used.
C. Management reserves are distributed as part of the budget and are part of earned value calculations
D. Management reserve describes the difference between the maximum funding and the end of the cost baseline
E. Management reserves are not part of the project cost baseline but are included in the budget for the project
Answer: C

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