WorksheetsIncome Tax
Total questions: 10
Worksheet time: 5mins
Income Tax Act was passed in the year_________
1934
1956
1961
1972
Assessment year is the period of 12 months commencing from________Every year
1st April
1st March
30th April
31st March
A Company has_____types of residential status
Two(2)
Three(3)
One(1)
Four(4)
Income-tax Act, 1961 applies to_________
Whole of India
Whole of India excluding Jammu and Kashmir
Maharashtra
North Eastern States
Income Tax Act contains_______sections
XIV
298
XV
297
Gratuity received by a Govt. employee is _________________
Fully taxable
Fully exempted
Exempted upto Rs.10,00,000
Exempted upto Rs.5,00,000
Perquisites and allowances paid to Govt. employees posted abroad are ___________
Fully taxable
Fully exempted
Taxable upto 10% of employee's salary
Taxable upto 15% of employee's salary
Commuted value of pension is fully exempted in a case of ___________
A Government employee
An employee of private sector
An employee of a Public Limited Company
Semi Govt. employee
Dearness Allowance is taxable in case of ______________
All employees
Govt. employees
Employee of the private sector
Employee of Public sector Undertaking
The amount of exemption for running allowance is _____________
70% of such allowance or Rs.3000 p.m.
70% of such allowance or Rs.10000 p.m. whichever is less
Fully exempted
Fully Taxable
