Worksheets5. Income from Salary Part 1
Total questions: 29
Worksheet time: 22mins
Name
Class
Date
1.
SM is a CA is employee of PC Ltd. & also Internal Auditor. Internal Audit Fees will be taxable as
a)
Salary
b)
PGBP
c)
IOS
d)
None
2.
Mr. SM was employed on 1.4.2017 in the grade of 15,000-5000-30,000-7500-45,000 Gross Salary for AY 2020-21 is<br />
a)
240000
b)
300000
c)
180000
d)
None
3.
Mr SM rcd salary of Rs. 4.5L & in addition employer pays the Income Tax of 10,400 on his behalf. Gross Salary is
a)
460400
b)
450000
c)
460000
d)
None
4.
Salary is deemed to accrue at the place where
a)
Payment for services is received
b)
Services are rendered
c)
Eighter of above
d)
None of the abovce
5.
Mr. S gets 24,000 as DA to meet increased cost of living. The amount of DA taxable is
a)
Rs 10,000
b)
Nil
c)
Rs 24,000
d)
Rs 9000
6.
Mr. S gets Sal of 10,000 p.m. took advance of 20,000 against salary in the month of March 2019. Gross salaryis
a)
120000
b)
140000
c)
160000
d)
None of the abovce
7.
Mr. S gets Salary of 1L p.m. took advance salary of Rs. 2L in the month of March 2019. Gross salary shall be
a)
1400000
b)
1200000
c)
1000000
d)
None of the abovce
8.
U/s 15 salary is taxable on ___basis
a)
Receipt
b)
Due
c)
Earlier of above
d)
None
9.
Foregone salary is
a)
Exempt if surrendered to government
b)
Taxable in other cases
c)
Just an application of Income
d)
All of the above
10.
Pension/leave salary paid abroad for services rendered in India is deemed to accrue
a)
In India
b)
Outside India
11.
Which of the following allowance is fully Exempt?
a)
Overtime allowance
b)
Medical allowance
c)
Allowances paid by UNO
d)
HRA
12.
Salary paid by Government to Citizen of India (R.NR) for services rendered o/s India is deemed to accrue
a)
in India
b)
O/s India
c)
Depends on the discretion of Assessee
d)
None
13.
Allowance or Perquisites paid o/s India by GOI to a citizen of India for rendering services o/s India will be
a)
Taxable in India
b)
Fully exempt u/s 10(7)
14.
GOI increased DA on 15.3.19 with retrospective effect from 1.5.17 & were paid on 8.5.2019. Arrears of DA is taxable in
a)
PY 2018-19
b)
PY 2019-20
c)
PY wich it relates to
d)
PY as per AO
15.
Salary paid to Partner by the firm is .
a)
Taxable u/h Salaries
b)
Taxable u/h PGBP
c)
Always exempt
d)
Always taxable
16.
Bonus is taxable as salary income on __basis
a)
Due
b)
Receipt
c)
Earier of above
d)
Any time at choice
17.
Mr. S grts watchman allowance of 600 p.m. He pays Rs. 500 p.m. to the watchman employed by him. Taxable allowance =
a)
500 pm
b)
100 pm
c)
600 pm
d)
None
18.
Medical expenditure reimbursed by the employer to the employee shall be exempt upto
a)
Rs. 15,000 pm
b)
Rs. 1,00,000 pa
c)
Fully Exempt
d)
Fully taxable
19.
Transport Allowance is .
a)
Always Taxable
b)
Exempt to handicapped 3,200pm
c)
Exempt to all
d)
None
20.
Which of the following allowances are fully taxable ?
a)
Servant Allowance
b)
Warden Allowance
c)
Non-Practicing Allowance
d)
All of the above
21.
Which of the following allowances are fully exempt ?
a)
Sumptuary allowance granted to HC.SC Judges.
b)
Allowance paid by UNO
c)
Compensatory Allowance received by a judge
d)
All of the above
22.
Which of the following is not the condition for claiming exemption for HRA ?
a)
Employee is in receipt of HRA
b)
Location of the employer.
c)
Rent paid by employee > 10% of salary.
d)
Location of the accommodation of employees
23.
Basic 50,000 PM, 10,000 PM DA (40% for retirement), HRA 20,000 PM in Mumbai doest pay any rent. Exempt HRA is
a)
Nil
b)
175200
c)
64800
d)
None
24.
Children education allowance is exempt upto:
a)
Rs. 100 pa for 2 children
b)
Rs. 100 pm for 2 children
c)
Rs. 100 pm per child for 2 children each
d)
Rs. 100 pa per child for 2 children each
25.
Hostel expenditure allowance is exempt upto
a)
Rs. 300 p.a for 2 children
b)
Rs. 300 p.m for 2 children
c)
Rs. 300 p.m per child for 2 children each
d)
Rs. 300 p.a per child for 2 children each
26.
Underground allowance to employee is exempt upto
a)
Rs. 700 p.m.
b)
Rs. 900 p.m
c)
Rs. 1,000 p.m.
d)
Rs. 800 pm
27.
Baisc Sal 20,000 PM, Children Edu Allowance 3,000 for 2 Children & Transport Allowance of 3,200. Taxable Salary is
a)
240000
b)
247200
c)
285800
d)
None of the abovce
28.
Transport allowance is exempt upto Rs. 3,200 pm for
a)
Govt. employees
b)
Non-Govt. Employees
c)
Handicapped Employee
d)
Mentally handicapped
29.
Allowance for Transport Conpany Employees is exempt upto
a)
70% of such Allowance
b)
Rs. 10,000 p.m
c)
Lower of (a) or (b)
d)
Completely taxable
100 %
