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NO. OF QUESTION= 15
TOTAL TIME= 15 MIN
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Your results are here!! for" Capital Gain Account Scheme "
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Question 1 of 15
1. Question
What is the minimum deposit amount under the Capital Gain Account Scheme?
Correct
The minimum amount required to open a Capital Gain Account Scheme deposit is â¹1,000.
Incorrect
The minimum amount required to open a Capital Gain Account Scheme deposit is â¹1,000.
Unattempted
The minimum amount required to open a Capital Gain Account Scheme deposit is â¹1,000.
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Question 2 of 15
2. Question
After the initial deposit, deposits can be made in multiples of?
Correct
After the minimum deposit, additional deposits can be made in multiples of Re.1.
Incorrect
After the minimum deposit, additional deposits can be made in multiples of Re.1.
Unattempted
After the minimum deposit, additional deposits can be made in multiples of Re.1.
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Question 3 of 15
3. Question
What is the maximum deposit limit under the Capital Gain Account Scheme?
Correct
There is no maximum ceiling prescribed for deposits under the scheme.
Incorrect
There is no maximum ceiling prescribed for deposits under the scheme.
Unattempted
There is no maximum ceiling prescribed for deposits under the scheme.
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Question 4 of 15
4. Question
Who is eligible to open a Capital Gain Account Scheme account?
Correct
The account can be opened by an assessee eligible under Sections 54, 54B, 54D, 54F, 54G and 54GB of the Income Tax Act.
Incorrect
The account can be opened by an assessee eligible under Sections 54, 54B, 54D, 54F, 54G and 54GB of the Income Tax Act.
Unattempted
The account can be opened by an assessee eligible under Sections 54, 54B, 54D, 54F, 54G and 54GB of the Income Tax Act.
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Question 5 of 15
5. Question
What is the maximum tenure for deposits under Sections 54, 54B and 54F?
Correct
The maximum deposit tenure under Sections 54, 54B and 54F is 24 months.
Incorrect
The maximum deposit tenure under Sections 54, 54B and 54F is 24 months.
Unattempted
The maximum deposit tenure under Sections 54, 54B and 54F is 24 months.
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Question 6 of 15
6. Question
What is the maximum tenure for deposits under Sections 54D, 54G and 54GB?
Correct
The maximum deposit tenure under these sections is 36 months.
Incorrect
The maximum deposit tenure under these sections is 36 months.
Unattempted
The maximum deposit tenure under these sections is 36 months.
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Question 7 of 15
7. Question
What is the minimum deposit tenure under the Maturity Option?
Correct
The minimum tenure under the Maturity Option is 7 days.
Incorrect
The minimum tenure under the Maturity Option is 7 days.
Unattempted
The minimum tenure under the Maturity Option is 7 days.
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Question 8 of 15
8. Question
What is the minimum deposit tenure under the Income Option?
Correct
The minimum tenure under the Income Option is 6 months.
Incorrect
The minimum tenure under the Income Option is 6 months.
Unattempted
The minimum tenure under the Income Option is 6 months.
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Question 9 of 15
9. Question
What happens to the Fixed Deposit on completion of the deposit tenure?
Correct
The Fixed Deposit is automatically closed on maturity.
Incorrect
The Fixed Deposit is automatically closed on maturity.
Unattempted
The Fixed Deposit is automatically closed on maturity.
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Question 10 of 15
10. Question
How is the interest rate determined under the Capital Gain Account Scheme?
Correct
Interest is paid at the prevailing Card Rate of Punjab National Bank.
Incorrect
Interest is paid at the prevailing Card Rate of Punjab National Bank.
Unattempted
Interest is paid at the prevailing Card Rate of Punjab National Bank.
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Question 11 of 15
11. Question
Are senior citizens entitled to additional interest under the Capital Gain Account Scheme?
Correct
No additional or differential interest rate is available for senior citizens or bank staff.
Incorrect
No additional or differential interest rate is available for senior citizens or bank staff.
Unattempted
No additional or differential interest rate is available for senior citizens or bank staff.
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Question 12 of 15
12. Question
What is the penalty for premature closure of the Fixed Deposit?
Correct
Premature closure is allowed with a penalty of 1% on the applicable interest.
Incorrect
Premature closure is allowed with a penalty of 1% on the applicable interest.
Unattempted
Premature closure is allowed with a penalty of 1% on the applicable interest.
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Question 13 of 15
13. Question
What facility is available against the Capital Gain Term Deposit?
Correct
No loan or overdraft facility is available against the deposit, and it cannot be used as collateral.
Incorrect
No loan or overdraft facility is available against the deposit, and it cannot be used as collateral.
Unattempted
No loan or overdraft facility is available against the deposit, and it cannot be used as collateral.
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Question 14 of 15
14. Question
Where is interest credited under the Income Option?
Correct
Interest under the Income Option is credited only to the Savings Bank Capital Gain Account.
Incorrect
Interest under the Income Option is credited only to the Savings Bank Capital Gain Account.
Unattempted
Interest under the Income Option is credited only to the Savings Bank Capital Gain Account.
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Question 15 of 15
15. Question
At which branches can the Capital Gain Account Scheme be opened?
Correct
The scheme is available at all Punjab National Bank branches except Rural Branches.
Incorrect
The scheme is available at all Punjab National Bank branches except Rural Branches.
Unattempted
The scheme is available at all Punjab National Bank branches except Rural Branches.