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Worksheetsincome tax quiz
Total questions: 20
Worksheet time: 7mins
Shipping income of NRI is taxed at the rate of
7.5%
6.5%
8.5%
5.5%
A Standard deduction of _________ of the net annual value is allowed as deduction U/H House property.
30%
40%
50%
13%
Maximum deduction of interest on loan borrowed after 1.4.99 in case of self occupied house is:
Rs.1,50,000
Rs.30,000
Rs.50,000
Rs.2,00,000
Income Tax Act was passed in the year
1924
1961
1962
1988
TDS on Income from Lottery is @
10%
15%
30%
50%
Which Depreciation method to be used as per IT Act?
Straight Line Method
Written Down Value
Annuity
Depreciation Fund
TDS
Tax Deducted at Source
Total Deducted at Source
Tax Deducted at Sample
Tax Due at Source
What is the amount of standard deduction U/H Salary ?
50,000
40,000
20000
10000
CBDT means
(a)
The exemption of entertainment allowance is applicable to_____.
Private Sector employees
Public Sector employees
Government employees
All of the above
Interest credited to RPF account is exempted upto
9%
9.5%
12%
Above 9.5%
Check out the any two basic conditions which an individual satisfy to become resident of India.
Stay 90 or less days during RPY in India
Stay atleast 60days in RPY & 365days in 4 py immediately preceding RPY in India
Stay 182 or more during RPY out of india
Stay 182 or more during RPY in India
Salary for the purpose of HRA includes
Basic pay only
Basic pay + DA
Basic pay + DA (enters) + Commission
None
Following are the different heads of income under income tax Act.
Income U/H Salary
Income U/H business and profession
Income U/H Lottery
Income U/H other sources
Income U/H land
Type of Assessee
Type of Person
Residential Status
Scope of income
The income which is neither included in total income nor taxable.
The income which is included in the total income of assessee
The income which is available for deduction
The income which is taxable but not included in total income
The________________ amount of gift is exempted from tax under income from other sources.
5,000
50,000
5,00,000
10,000
The exemption u/s 54EC is available if the assessee invest the capital gain
within 1year of the sale of an asset
Within 2 years of the sale of an asset
within 12 months of the sale of an asset
within 6 months of the sale of an asset
Examination fees received by the college teacher from the university is taxable under
salary income
professional income
other sources income
exempted income
Long term capital on shares subject to STT is taxable in excess of
1,00,000 RS
20,000 RS
10,000 Rs
50,000 Rs
