Top 150+ Solved Income Tax Law and Practices MCQ Questions Answer
Q. Assessment year is the period of 12 months commencing from_every year.
a. 1st March
b. 31s tMarch
c. 1st April
d. 30thApril
Q. Expenditure incurred on exempted income is.............. as deduction.
a. Fully Allowed
b. Partly Allowed
c. Not Allowed
d. None of these
Q. If the assessee is living in own house HRA is…………..
a. Fully Taxable
b. Partly Taxable
c. Fully Exempted
d. None of these
Q. Children education allowance is exempt up to per month per child for two children.
a. Rs.100
b. Rs.150
c. Rs.200
d. Rs.250
Q. Children hostel allowance is exempt up to per month per child for
a. 2 child
b. 3 child
c. 4 child
d. 7 child
Q. Transport allowance given by the employer to the employee is exempt up to………..
a. Rs.1000p.m
b. Rs.1600p.m
c. Rs.1000p.a
d. Rs.1600p.a
Q. Education allowance is exempted for……..
a. One person
b. Four persons
c. Two persons
d. None of these
Q. Gratuity received by a government employee is.......................
a. Fully exempted
b. Partly exempted
c. Fully taxable
d. Exempted up toRs:1,00,000
Q. The periodic payment of money for the past service is known as........................
a. Gratuity
b. Pension
c. Commuted pension
d. Leave salary
Q. Which of the following is not included in salaryincome.
a. Commuted pension
b. Un commuted pension
c. Family pension
d. Leave salary
Q. Dearness allowance is taxable in the handsof.................
a. Govtemployees
b. Non Govtemployees
c. Allemployees.
d. None ofthese.