Income from Salary Sem 2 Qmes 2

Leave salary received during the service period

• Not taxable
• Partly taxable
• Fully taxable
• None of these

For encashment of leave salary requirement of

• 16 months average salary
• 12 months average salary
• 8 months average salary
• 10 months average salary

Encashment of leave salary maximum exempted limit

• 500000
• 100000
• 200000
• 300000

Uncommuted pension received by government employee

• Not taxable
• Partly taxable
• Fully taxable
• None of these

Leave salary received at the time of retirement for government employees

• Not taxable
• Partly taxable
• Fully taxable
• None of these

Commuted pension received by government employee

• Not taxable
• Partly taxable
• Fully taxable
• None of these

Gratuity received for central government emplyoees

• Not exempted
• Fully exempted
• Partly exempted
• None of these

House rent allowance Rent paid

• less 5% of salary
• less 10% of salary
• less 15% of salary
• less 20% of salary

Basic pay is

• Not taxable
• Partly taxable
• Fully taxable
• None of these

For Gratuity under payment of Gratuity Act

• Salary = Basic pay
• Salary = Basic pay+allowances
• Salary = Basic pay+allowances+Bonus
• Salary = Basic pay+Full DA