Kadha Sollata Sir

What does IRR stand for?

•   Interest rate return

• Internal return ratio

• Internal rate of return

   

A higher IRR indicates _________

• Lower returns

• Higher returns

• Higher risk

What is the Section 80C of Income Tax Act?

• Exemption on specific expenditure and Investments

• Tax credit on education expenses

• None of the above

What is the maximum deduction limit under Section 80C?

• 1.55 Lakhs

• 1.45 Lakhs

• 2.50 Lakhs

• 1.50 Lakhs

Which of the following is not eligible for 80C deduction?

• ELSS

• Mutual fund investments

• Life insurance premium

• PPF

Can 80C deduction be claimed for tuition/school fees made by parents for their kid's education?

• Only for minor children

• Only for major children

• Yes

What does EPF stand for?

• Employer Pension Fund

• Employee Provident Fund

• Employee Pension Fund

Who contributes to EPF?

• Government

• Employee and Employer

• Employee only

• Employer only

What is the EPF contribution rate for Employees?

• 10.5% of basic salary + DA

• 12.0% of basic salary +DA

• 12.25% of basic salary + DA

Can EPF withdrawals be tax free?

• Yes, fully tax free after completion of 5 years

• Cannot withdraw

• No, completely taxable

• Depends on the reason of withdrawal