Quizz - 1

Maximum HRA exemption that an Individual can claim

• Actual Rent paid

• Rent Paid - 10% of basic

• HRA received

• 40 or 50 % of basic based on the city

In New Tax Regime, what are the exemptions that individual can claim?

• Sec 10(13A)

• Sec 10(10AA)

• Sec 80CCD(2)

• Sec 10(10)

Select the Investment / Expenses made for parents can be claimed for Exemption

• Life Insurance

• Health Insurance

• Senior Citizen savings scheme

• Leave travel allowance

Select the loan type for which individuals can exemption under chap VI A?

• Mortage loan

• Education loan

• Renowation for House property

• Loan for Electric Vehicle

• Car loan

Maximum exemption to be claimed on the cost preventive health check up is

• Rs. 5000 for each individual in family

• Rs. 5000 for all family members

• Rs. 5000 separately for self and parents

• Rs. 5000 separately for self, children and parents

Payment towards Medical Insurance made in cash will be considered for exemption ?

• True

• False

Conditions to claim additional Exemption on Interest payment towards the Housing loan. Loan borrowed on 25th March 18

• At the time of loan sanctioned, Individual haven't owned any House property

• Value of the property is less than 50 Lakhs

• Value of the loan is less than 35 Lakhs.

• All the above

• None of the above

Conditions to claim additional Exemption on Interest payment towards the Housing loan. Loan borrowed on 25th April 19

• At the time of loan sanctioned, Individual haven't owned any House property

• Stamp duty value of the property is less than 45 Lakhs

• All the above

• None of the above

Principal paid on pre-construction period will be considered for exemption in ___ equal of annual installments

• 5

• 3

• 7

• 0