Play test (Office, Worksheet)

Which of the following is not a Tax saving investment?

• Home loan principal payment

• Public Provident Fund (PPF)

• Life insurance premium

• Fixed Deposits

What is the rate of tax for income tax slab between the income of Rs. 2.5 Lakh to Rs. 5 Lakh for Assessment year 2022-23?

• 5%

• 15%

• 10%

• 20%

In the income tax act, ____ is a certificate which an employer gives to his employees. It certifies the amount of tax deducted by the employer from the salary of the employee.

• Form 16

• Form 12

• Form 15

• Form 26AS

The uncommitted pension received by a Government servant is____

• Fully exempted

• Up to 50 percent

• Fully taxable

• Up to 20 percent

The bills for your travel against LTA can be claimed for exemption. It is allowed to be claimed ____ in a block of four years -

• Twice

• Once

• Thrice

• None of these

When is the landlord pan mandatory for HRA exemption? 

• In case of rent payment per annum is more than Rs 1,00,000

• In case of rent payment per annum is more than Rs 50,000

• In case of rent payment per annum is more than Rs 75,000

• None of these

As per section 80G maximum deduction allowed for any cash donation is upto

• 2000

• 1000

• 5000

• 10,000

_____ Salary is the amount paid before deduction of taxes or other deductions and is inclusive of bonuses, over-time pay, holiday pay, and other differentials.

• Gross

• Net

• Both of these

• None of these

Which of the following terminology are NOT related to income tax?

• Tax deduction and collection account number

• Leave Travel Allowance (LTA)

• Dearness Allowance (DA)

• Taxpayer identification number (TIN)

Identify the indirect taxes from the given options -

• GST, corporate tax

• Custom duty, corporate tax

• Income tax, GST

• GST, custom duty