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Income from Salary

Total questions: 10

Worksheet time: 9mins

Name
Class
Date
1.

State which of the following income are exempted?

a)

Dearness allowance

b)

Education allowance

c)

Foreign allowance

d)

City compensatory allowance

2.

Reimbursement of medical bills of a private hospital is exempt upto.......

a)

15000

b)

Nil

c)

1,00,000

d)

30,000

3.

Interest credited to RPF account is exempted upto

a)

9%

b)

9.5%

c)

12%

d)

Above 9.5%

4.

Education allowance is exempt for........... children

a)

Maximum 1

b)

Maximum 2

c)

Maximum 3

d)

Maximum

5.

Standard deduction from salary is Rs.

(a)  

6.

Value of facility of gardener is taxable for

a)

All employees

b)

specified employee only

c)

Not taxable for all

d)

None

7.

Employer's contribution to URPF is

a)

taxable in excess of 12%

b)

Not taxable

c)

Not taxable from year to year

d)

Taxable in excess of 9.%

8.

Employer's contribution to SPF is...

a)

Fully taxable

b)

Exempt up to 12%

c)

Fully exempt

d)

Exempt upto 9%

9.

Income tax is collected on all types of income except _______________.

a)

Agricultural Income

b)

Industrial Income

c)

Capital Gain

d)

Household property

10.

. Bonus paid by the employer to the employee is …………

a)

Fully Taxable

b)

Partly Taxable

c)

Fully Exempted

d)

None of these