AAFM Exam GLO_CWM_LVL_1 Topic 7 Question 92 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam

Question #: 92
Topic #: 7

[All GLO_CWM_LVL_1 Questions]

Deduction under section 80QQB is allowed in respect of royalty income to:

Aan individual who is an author of a book

Ban individual who is resident in India and who is an author of a book

Can individual who is resident in India who is either an author of a book or a joint author of the book

DNone of These

Show Suggested Answer

Suggested Answer: B

by Michael at Sep 19, 2024, 07:47 AM

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Glory

2 months ago

Option C is the winner! I guess the tax authorities want to encourage book writing in India, as long as you're a resident. Looks like I need to get my pen and paper ready.

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Cecilia

7 days ago

Definitely, it's a win-win situation for both authors and the literary community.

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Dyan

13 days ago

I think it's a good incentive for authors to continue writing and publishing books.

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Avery

14 days ago

Yes, it's great to see the government supporting creativity through tax deductions.

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Boris

28 days ago

I agree, option C seems to be the most beneficial for authors in India.

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Stefania

2 months ago

Ha! This reminds me of that time I tried to write a book and ended up with a blank page. Clearly, I'm no author. But for those who are, option C seems like the way to go.

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Clement

1 months ago

Yeah, it's good that the deduction is available for both individual authors and joint authors.

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Claudio

2 months ago

I agree, option C seems to cover both scenarios for authors.

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Lonna

2 months ago

I'm not sure, but I think the answer is C) an individual who is resident in India who is either an author of a book or a joint author of the book.

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Dell

2 months ago

I agree with Casie, because the deduction under section 80QQB is specifically for authors who are residents in India.

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Avery

2 months ago

Hmm, this one's tricky. I was leaning towards option B, but C makes more sense. As long as the individual is a resident of India and an author or co-author, they should be eligible for the deduction.

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I think option C is the correct answer. The question specifically mentions royalty income, and section 80QQB allows deduction for individuals who are resident in India and either authors or joint authors of a book.

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Earnestine

2 months ago

I think we can confidently go with option C as the correct answer.

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Polly

2 months ago

I'm not sure, but it does seem like option C covers all the necessary conditions for deduction under section 80QQB.

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Dulce

2 months ago

Yes, I think so too. It makes sense based on the criteria mentioned in the question.

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Dottie

2 months ago

I agree, option C seems to be the most accurate choice.

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Casie

2 months ago

I think the answer is B) an individual who is resident in India and who is an author of a book.

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AAFM Exam GLO_CWM_LVL_1 Topic 7 Question 92 Discussion

Contribute your Thoughts:

Glory

Cecilia

Dyan

Avery

Boris

Stefania

Clement

Claudio

Lonna

Dell

Avery

Jerry

Earnestine

Polly

Dulce

Dottie

Casie