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Taxation (India) Practice Test: Income From Salary
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Taxation (India) Practice Test: Income From Salary
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25 Questions

1. The family pension received by the family members of armed forces after death of employee is .
2. The assessment period for income tax on salary is .
3. ……………….of Income Tax Act defines the perquisites and their valuation.
4. Which of the following are true regarding taxing the rich?
5. Compensation received on voluntary retirement is given by of Income Tax Act, 1961.
6. The children education allowance, the amount exempted from taxable income is limited to
7. The entertainment allowance is applicable to .
8. Total income is to be rounded off to nearest multiple of …………….and tax is to be rounded off to nearest multiple of .
9. The Income tax rate for the financial year 2016-17 for individual is…………..
10. Encashment of earned leave is given by………………. of Income Tax Act, 1961.
11. The death-cum-retirement gratuity received by the Government Employee or employee of local authority is .
12. The following is exempt income from Income Tax:.
13. For computation for Income tax liability for individual, the Education Cess is
14. Income accrued outside India and received outside India is taxable in case of.
15. The salary of Member of Parliament is taxable under the head .
16. Deduction under section 80C to 80U cannot exceed .
17. Surcharge is levied at the rate …………….if the income exceeds ` 1 crore of the financial year 2016-17.
18. If loan granted by employer to employee does not exceed …………., it is not treated as perquisite to employee for purpose of income tax.
19. Income tax rate for the senior citizens for year 2016-17 is .
20. The assesses can claim relief under…………….for arrears or advance salary.
21. Expenditure on free meals to employee in excess of………………per meal will be treated as perquisite of employee.
22. The income is chargeable under the head of salary under ……………of Income Tax Act, 1961.
23. Which of the following is not taxable under the head Salary?
24. The following is not taxable as income under the head “Salaries”:
25. Any commission due or received by a partner of a firm from the firm shall not be regarded as salary income under .

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