WorksheetsIncome from Salary Part 2
Total questions: 30
Worksheet time: 23mins
Name
Class
Date
1.
Value of perquisite in case of rent-free accommodation given to government employees will be__.
a)
10% of salary
b)
15% of salary
c)
7.5% of salary
d)
License fees determined by Government.
2.
Salary is 2L Fair rent of house in Delhi given to employee is Rs. 1,30,000. Perquisite in case of Non-Govt employee is:
a)
Rs. 2,00,000
b)
Rs. 30,000
c)
Rs. 70,000
d)
Rs. 1,30,000
3.
Employee is provided with furniture costing Rs. 50,000 perquisite value of the furniture
a)
Rs 5,000
b)
Rs. 30,000
c)
Rs. 10,000
d)
Rs. 20,000
4.
SM is provided with furniture of 70K. It is rented by employer for hire charges of Rs. 5,000 pa. perquisite value is
a)
Rs 5,000
b)
Rs 7,000
c)
Rs10,500
d)
Rs 14,000
5.
Salary of an employee is 2L. Rented house provided @ Faridabad is 3,000 p.m & charges Rs. 2,000 p.m. to employee.
a)
Rs. 24,000
b)
Rs. 36,000
c)
Rs. 30,000
d)
Rs. 6,000
6.
SM with Salary of 12,000 PM gets RFA from 1st July in Pune (20L+ Population). House is owned by employer
a)
Rs. 21,600
b)
Rs. 10,800
c)
Rs. 16,200
d)
Rs. 12,600
7.
Salary is 25k p.m. & is Hotel Room given in pune on his transfer for a week. Value of the perquisite for RFA
a)
Rs. 72,000
b)
Rs. 30,000
c)
Rs. 45,000
d)
Nil
8.
Medical facility to employee in India is exempt if:
a)
Hospital owned/maintained by employer or Government Hospital;
b)
Pvt Hospital (if recommended by Govt)
c)
Specified facility for prescribed diseases in hospital approved by PCC/CC
d)
All of the above
9.
SM is entitled to Rs. 8,000 p.m as Medical Allowance. He spends Rs. 4,000 p.m on his medical treatment Exemption =
a)
Rs 8,000
b)
Rs 4000
c)
Nil
d)
None of the above
10.
Health Insurance Premium paid by employer in approved scheme of CG/IRDA is .
a)
Taxable
b)
Exempt
11.
SM took an interest-free loan of 15,000 employer. Market rate of interestis 10%, the taxable value of the perquisite is
a)
150
b)
1500
c)
Nil
d)
None of the above
12.
Perquisite value of loan at concessional rate the lending rate of State Bank of India as on is required;
a)
1st day of PY
b)
Last day of PY
c)
Day on which loan is given
d)
1st day of AY
13.
In which of the following cases, Interest-free Loan is not treated as perquisite:
a)
If the amount of loans ≤ Rs. 20,000
b)
If Loan is for Treatment of Prescribed Diseases
c)
Both (a) & (b)
d)
None of the above
14.
Training of employees is not a/an ___ perquisite
a)
Taxable
b)
Exempt
c)
Exempt upto Rs. 10,000
d)
Depends on the discretion of AO.
15.
Scholarship given by an employer-company to children of its employees is not a.an perquisite.
a)
Taxable
b)
Exempt
c)
Exempt upto Rs. 10,000
d)
Depends on the discretion of AO
16.
Exemption in respect of Leave Travel Concession is available only for going anywhere _with
a)
In India.outside India; Family
b)
In India; family
c)
In India; friends or family
d)
In India; Alone
17.
Exemption in respect of Leave Travel Concession is available only on
a)
Hotel charges
b)
Boarding expenses
c)
Bus.Air.Rail Fare
d)
All of the above
18.
Employer gives a gift in kind on the marriage of the son of the employee. Gift so made shall be
a)
Taxable if value is Rs. 6,000 or less
b)
Exempt if value is Rs. 5,000 or less
c)
Always fully taxable
d)
Fully Exempt
19.
Cash Gift received 4999 is
a)
Fully taxable
b)
Fully Exempt
c)
Depends on Occasion
d)
None of the above
20.
Tea & Snacks are provided to employees in the office during office hours. The value of this perquisite shall be
a)
Fully taxable
b)
Fully Exempt
c)
Depends on Occasion
d)
None of the above
21.
Expenditure pertaining to health club, sports facilities etc.is
a)
Taxable Perquisite
b)
Exempt Perquisite
c)
Partly Exempt
d)
None of the above
22.
Free or concessional tickets granted to Employees of an airline or the railways is _ .
a)
Taxable Perquisite.
b)
Exempt Perquisite
c)
Partly Exempt
d)
None of the above.
23.
A co has provided laptop worth Rs. 50K to its employee for official & personal purposes. amount of perquisite will be -
a)
Rs. 5,000
b)
Rs. 25,000
c)
Rs. 10,000
d)
Nil
24.
Employer has given a video-camera for the personal use of the employee. The value of this perquisite is:
a)
10 % pa of historical cost
b)
Nil
c)
10% pa of the WDV
d)
Fully Exempt
25.
Employer purchased car of 8L 2 Y & 7 m. thereafter sold to the employee for Rs. 2,02,000. The value of this perquisite
a)
Rs. 2,80,000
b)
Rs. 1,20,000
c)
Rs. 8,00,000
d)
Rs. 3,10,000
26.
Car capacity 1.9L Owned & Exp paid by Employer. Perk valaue is
a)
Rs 1800 Pm
b)
Rs 2200 PM
c)
Rs 2000 PM
d)
None of the above
27.
Encashment of leave salary at the period of service is fully taxable in the case of _.
a)
CG employee
b)
SG employee
c)
Both CG & SG employees
d)
Govt employee & Non-Govtemployee
28.
Maximum Exemption in case of leave encashment is
a)
Rs. 2.4 lac
b)
Rs. 3.5 lac
c)
Rs. 3 lac
d)
Rs. 10 lac
29.
Payment of premium on personal accident insurance policies of the employee by the employer is
a)
Taxable perquisite
b)
Exempt
c)
Partly Exempt
d)
None of the above
30.
Salary for exemption of leave encashment shall be taken as.
a)
Last drawn Salary
b)
Avg Sal 10m preceding month retirement
c)
Avg Sal 10m preceding day retirement
d)
Any of the above
100 %
