Income under the head Salaries

1.       Income under the head “Income from Salaries” is chargeable to tax on –

• Only Due basis

• Only Receipt basis

• Due or Receipt whichever is earlier

• None of these

2. Deduction under the head "Income from Salaries" is allowed u/s.........

• 10

• 15

• 16

• 17

3. An employee in receipt of hostel expenditure allowance for his three children the maximum annual allowance exempt under section 10(14) is:

• Rs.10,800

• Rs.7,200 

• Rs.2,400 

• Rs.3,600

4. Tuition Fee reimbursement is :-

• Wholly exempt from tax

• Exempt upto Rs.100/-per child per month ( Upto   2 children )

• Exempt upto Rs.200/-per child per month ( Upto   2 children )

• Not exempt

5. Mr. A earns a salary and DA of Rs.50,000/- in Delhi.      His HRA is Rs.10,000/- and he pays rent of Rs.15,000. The HRA exempt u/s 10(13A) will be equal to :

• Rs.10,000

• Rs.15,000

• Rs.25,000

• Rs.5,000

6•   In a case where the employee of a Pvt. Co. receives gratuity and pension both, what proportion of commuted pension is exempt from tax:

• 25% 

• 33.33%  

• 50%  

• 100%

7. Leave encashment during the service is ?

• Partly exempt

• Fully taxable

• Fully exempt

• None

8•  Gratuity shall be fully exempt in the case of

 

• Central and State Govt. employeeand         employee of statuary corporation

• Central and State Govt. employee and employee of local authorities

• Central and State Govt. employee and employee of local authorities and         employee of statuary corporation

• None of the these

9•   Compensation received on voluntary retirement is exempt u/s 10(10C) to maximum extent of :

• Rs. 3,00,000

• Rs. 10,00,000

• Rs. 5,00,000

• None

10. While calculating perquisite value of Rent free accommodation for A.Y.2025-26, population to be considered as per the ........

• Census 2011

• Census 2001

• Both Census 2001 or Census 2011

• None