Income from Salary

Under Section 15 salary is taxable:

• On receipt basis

• On due basis

• Receipt or due, whichever is earlier

• None of the above

Standard deduction is not allowed from

• Pension

• Family Pension

• Arrear from Salary

• Gross Salary

Professional Tax is charged by

• Central Government

• State Government

• Local Authority

• Statuary Corporation

Commuted pension received by employees of Central Government and State Government is:

• Fully exempt from tax

• 
  Fully Chargeable from tax

• 50% exempt and rest taxable

• 80% exempt and rest taxable

Pension received by gallantry award winner is:

• Fully chargeable to tax

• fully exempt from tax

• 50% exempt and rest taxable

• 80% exempt and rest taxable

Employer's Contribution to Statuary Provident Fund shall be

• Fully exempt for employee

• Exempt up to 12% of salary of employee

• Exempt up to 10% of salary of employee

• Fully taxable for employee

The maximum ceiling limit for exemption under section 10(10) in respect of gratuity for employees covered by the Payment of Gratuity Act, 1972 is ____________

• Rs. 10,00,000

• Rs. 5,00,000

• Rs. 3,50,000

• Rs. 20,00,000

Children Education Allowance is exempt up to:

• Rs.100 pa for 2 Children

• Rs.100 pm for 2 Children

• Rs.100 pm per child for 2 Children each

• Rs.100 pa per child for 2 Children each

House Rent Allowance is covered under section:

• 10 (13A) Rule 2A

• 10 (15B) Rule 3B

• 20 (4) Rule 8B

• 10 (14A)

The employer provides free facility of watchman, sweeper and Gardner to his employees. The perquisite shall be

• Taxable in case of specified employee only

• Taxable in case of an employee other than specified employees

• Taxable in case of all type of employees

• Not taxable at all for any employee