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Taxation > Taxation_1

Taxation > Taxation_1

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Published by: api-3704742 on Oct 18, 2008
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05/09/2014

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LIST OF ATTEMPTED QUESTIONS AND ANSWERS
Your Answer
Retirement , Resignation
Multiple Choice Multiple Answer
Question
From annual value, following deductions are allowed
:-
Correct Answer Standard deduction , Interest on borrowed capital ,
Municipal taxes
Your Answer
Interest on borrowed capital , Municipal taxes
Multiple Choice Single Answer
Question
As a general principle, the Basic Salary or Wages,
Dearness Allowance and Bonus / Commission is :-
Correct Answer Fully taxable.
Your Answer
Fully taxable.
Multiple Choice Multiple Answer
Question
From GTI of a company following deductions under
chapter VI A are allowed

Correct Answer 80 G Donations , 80 HHB profits and gains from projects outside India , 80 IA profits and gains of infrastructure companies

Your Answer
80 G Donations , 80 IA profits and gains of
infrastructure companies
Multiple Choice Single Answer
Question
Annual value of any one palace in possession of a
former ruler is :-
Correct Answer Exempt
Your Answer
Taxable
Select The Blank
Question
If the Salary is more than Rs. 5,00,000, Standard
Deduction will be Rs.________.
Correct Answer 20000
Your Answer
20000
Multiple Choice Single Answer
Question

The amount of accumulated interest on NSCs
purchased in the earlier years is assumed to be
reinvested :-

Correct Answer And qualifies for tax rebate under section 88.

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