UGC NET Profits and gains of business Previous Year Questions
JRFSmart holds 15 previous-year questions on Profits and gains of business from UGC NET Commerce (Paper 2), filed under Unit 10: Income-tax and Corporate Tax Planning, drawn from 11 of the 22 exam papers in the bank (2018–2025). Each question can be practised with a full explanation and shows how often NTA has returned to the same idea.
What is asked in Profits and gains of business
The questions in this topic fall under these subtopics, ordered by how many previous-year questions each has.
| Subtopic | Questions |
|---|---|
| Sections on deductions and capital gains | 1 |
| Family planning expenditure | 1 |
| Expenses expressly disallowed | 1 |
| Section 35 - scientific research | 1 |
| Losses not deductible from business income | 1 |
| General deduction - Section 37(1) | 1 |
| Block of assets | 1 |
| Deductions allowed and disallowed | 1 |
| Depreciation - method under the Act | 1 |
| Disallowed expenses | 1 |
| Computing depreciation on a block of assets | 1 |
| Section 35CCD skill development | 1 |
NTA repeat analysis
Profits and gains of business appears in 11 of 22 papers (50%), which JRFSmart rates as high frequency.
1 question in this topic has been verified as repeated in more than one paper.
Sample previous-year questions
Which of the following losses are not deductible from business income? 1. Loss sustained before the business is commenced 2. Losses incurred in the closing down of the business. 3. Loss incurred due to damage, destruction, etc., of capital assets. 4. Loss of…
Identify which of the following statements are true: A. Commuted pension received by a government employee is fully exempted from Income Tax. B. Section 30 of the Income Tax Act, 1961, discusses deduction in respect of rent, rates, taxes, repairs, and…
Where a company incurs any expenditure (not being expenditure in the nature of cost of any land or building) on any notified skill development project, then such company can claim as deduction under section 35CCD :
X Ltd. incurred a capital expenditure of ₹5,00,000 for the purpose of promoting family planning amongst its employees during the assessment year 2024-25. How much deduction in respect of such expenditure can be claimed by X Ltd. during the assessment year…
Which expenses are expressly disallowed under profits from Business or Profession? A. Salary paid out of India or to a non-resident in India B. Wealth tax C. Payment to any Rural Development Programme D. Expenditure incurred by companies on notified skill…
Sequence the steps for computing depreciation in income from Business and Profession: A. The written down value of each block as on the last day of the previous year B. Find the value of each block at the beginning of each year C. The money received along…
Match List I with List II: List-I List-II A. Section 35(1)(ii) I. Payment made to certain institutions for scientific research B. Section 35(1)(iii) II. Payment made to certain institutions for research in social sciences C. Section 35(1)(iia) III. Payment…
Which of the following losses are NOT deductible from business Income? A. Loss incurred in closing down the business B. Loss incurred due to damage, destruction, etc of capital assets C. Loss of stock-in-trade due to enemy action D. Loss sustained before the…
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