Income from Salary

Income from Salary

Professional Development

25 Qs

quiz-placeholder

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Income from Salary

Income from Salary

Assessment

Quiz

World Languages

Professional Development

Medium

Created by

MSTU VISAKHAPATNAM

Used 2+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Under Section 15 salary is taxable:

On receipt basis

On due basis

Receipt or due, whichever is earlier

None of the above

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Standard deduction is not allowed from

Pension

Family Pension

Arrear from Salary

Gross Salary

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Professional Tax is charged by

Central Government

State Government

Local Authority

Statuary Corporation

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Commuted pension received by employees of Central Government and State Government is:

Fully exempt from tax


Fully Chargeable from tax

50% exempt and rest taxable

80% exempt and rest taxable

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Pension received by gallantry award winner is:

Fully chargeable to tax

fully exempt from tax

50% exempt and rest taxable

80% exempt and rest taxable

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Employer's Contribution to Statuary Provident Fund shall be

Fully exempt for employee

Exempt up to 12% of salary of employee

Exempt up to 10% of salary of employee

Fully taxable for employee

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The maximum ceiling limit for exemption under section 10(10) in respect of gratuity for employees covered by the Payment of Gratuity Act, 1972 is ____________

Rs. 10,00,000

Rs. 5,00,000

Rs. 3,50,000

Rs. 20,00,000

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