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salary is chargeable to tax on


A) Receipt
B) due
C) Receipt or due whichever is earlier
D) none of the above

E) A) and D)
F) A) and B)

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Which of the allowances are fully taxable


A) Dearness allowance
B) Lunch allowance
C) Medical allowance
D) All of the above

E) B) and C)
F) A) and D)

Correct Answer

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Outstanding salary would be taxable basis


A) Due
B) receipts
C) both a & b
D) none of the above

E) A) and B)
F) A) and C)

Correct Answer

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Allowances to Judges of High Court/Supreme Court (Subject to certain conditions)


A) Taxable
B) Not taxable
C) Both A & B
D) none of the above

E) B) and C)
F) None of the above

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R Ltd. Is an Indian company whose place of effective management is outside India. R Ltd., shall be:


A) resident in India
B) non-resident in India
C) not ordinarily resident in India
D) nt and ordinarily residen

E) All of the above
F) A) and D)

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Capital LosseCan be carry forward up to next---------------assessment years from the assessment year in which


A) 8
B) 4
C) 2
D) 5

E) A) and B)
F) None of the above

Correct Answer

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Benefits Given in kind are


A) Allowance
B) Perquisites
C) both a and b
D) none of the above

E) B) and C)
F) A) and B)

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B

A is a non-cash benefit granted by an employer to the employee


A) Allowance
B) Perquisites
C) pension
D) none of the above

E) A) and B)
F) C) and D)

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C

Arear on salary are taxable on             


A) Receipt
B) due
C) Receipt or due whichever is earlier
D) none of the above

E) A) and B)
F) C) and D)

Correct Answer

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Advance salary would be taxable basis


A) Due
B) receipts
C) both a & b
D) none of the above

E) A) and D)
F) A) and C)

Correct Answer

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It is an extra amount given to an employee to meet the burden of inflation or increased cost of living.


A) House Rent allowance
B) Dearness allowance
C) both a and b
D) none of the above

E) B) and D)
F) A) and C)

Correct Answer

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What is the section of Incidence of law


A) 6
B) 5
C) 7
D) 4

E) C) and D)
F) None of the above

Correct Answer

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which of the following are the basic condition to become resident of india


A) He must be in India for 182 days or more in relevent
B) He must be in India for 60 days or more in
C) both a and b
D) none of the above

E) B) and C)
F) None of the above

Correct Answer

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Salary should have relationship


A) employer employee
B) Master and servent
C) both a and b
D) none of the above

E) A) and B)
F) A) and C)

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C

which of the following heads are the head of Income under Income tax Act 1961


A) salary
B) capital gain
C) House Property
D) All of the above

E) A) and D)
F) B) and C)

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Full form of TDS


A) Tax deducted at source
B) Tax deducted for source
C) tax deducted by source
D) none of above

E) A) and B)
F) A) and C)

Correct Answer

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An allowance to meet the expenses in connection with the rent of the house, by whatever name called


A) House Rent allowance
B) Perquisites
C) pension
D) none of the above

E) None of the above
F) B) and D)

Correct Answer

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which of the following are the persons under sec2(A)


A) Individual
B) firm
C) body of person
D) All of the above

E) A) and D)
F) A) and B)

Correct Answer

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  is a retirement benefit given by the employer to the employee in consideration of past


A) Gratuity
B) Dearness allowance
C) Lunch allowance
D) House Rent allowance

E) All of the above
F) A) and B)

Correct Answer

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against the profit or income of that particular year.


A) set off
B) carry forward
C) none of above
D) both of above

E) A) and B)
F) C) and D)

Correct Answer

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