1. Which of the following is exempted.
a) C.C.A
b) D.A
c) Foreign Allowance
d) Medical Allowance
2. Free food provided to employees is exempted upto .................. per meal.
a) Rs: 40
b) Rs: 50
c) Rs: 60
d) Rs: 15
3. Which of the following is not taxable under the head Salary?
a) Remuneration paid to the lecturer of a college for setting a question paper
b) Salary received by a member of parliament
c) Commission received by an employee director of a company
d) Both (a) and (b)
4. In accordance with the provisions of Section 17(1) of Income Tax Act, 1961, the term salary includes …………………….
a) Any annuity or pension
b) Any gratuity
c) Any fees, commission, perquisite or profits in lieu of or in addition to any salary or wages
d) All of the above
5. If the employee receives retirement gratuity from more than one employer, he can claim exemption in respect of ……………………….
a) Current employer
b) Previous employer
c) Both employer
d) Not from single employer
6. The family pension received by the family members of armed forces after death of employee is ……………………………….
a) Exempt fully
b) Exempted after fulfilling of certain conditions
c) Not exempted
d) None of the above
7. The entertainment allowance is applicable to …………………….
a) Private sector employees
b) Public sector employees
c) Government employees
d) All of the above
8. The entertainment tax allowed as a deduction under Section 16 of Income Tax Act is the least of ………………………….
a) Actual amount of entertainment allowance received
b) 20% of basic salary of the individual
c) 50,00
d) All of the above
9. Income accrued outside India and received outside India is taxable in case of ………………………….
a) Resident and ordinary resident (ROR)only
b) Resident but not ordinary resident (RNOR)only
c) Non-resident only
d) ROR, RNOR and Non-resident
10. Gross Total Income is arrived after ……………………….
a) only adding Income under five heads of Income
b) adding Income under five heads of Income excluding losses
c) adding Income under five heads of Income, after applying clubbing provisions and making adjustment of set off and carry forward of losses
d) adding Income under five heads of Income, after applying clubbing provisions and making adjustment of set off and carry forward of losses and after allowing deduction undersection 80Cto80U