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B-
Taxation Laws
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Answer the following Questions

Interest credited to RPF @9.5% is Rs 28,000.

The amount of taxable Interest shall be: *

Rs 12000

Rs 9000

Rs 19000

Nil

Which does not form part of Salary *

Entertainment Allowance

Employers Contribution to SPF

Rent recovered from the employee

HRA

Employer's contribution to recongnised

provident shall be: *

Fully Exempted

exempted upto 12% of salary

exempted upto 9.5% of salary

Fully Taxable

Which of the following statement is correct

*

Uniform Allowance is exempted up to the

actual amount received

Uniform Allowance is exempted to the

extent of actual amount spent or received
which ever is lower

Uniform Allowance is exempted to the

extent of actual amount spent or received
which ever is higher

Mr. X was employed on 31st March 2010 in

grade pay Rs. 12,000-500-17,000-600-
23,000. His gross salary for the Previous
year 2021-22 shall be *

Rs 1,99,200

Rs 2,10,000

Rs 2,08,500

Rs 2,16,000

If Mr. Lagu's salary during the previous year

was Rs 5,50,000. He has received HRA @ Rs
5500 p.m. and paid rent @ Rs 7000 p.m. ,
what will be the amount of exemption
available for him from HRA (He resides in
Jabalpur) *

Rs 66000

Rs 2,25,000

Nil

29000

Which of the following statements are not

correct *

Tax is compulsory

Tax is non-contribution

Tax is paid out of wealth of the tax payer

Tax is not the cost of the benefit

Which of the following are Agricultural

Incomes *

Income from lease of land for grazing of

cattle required for agricultural purpose

Interest on capital to any partner from a

firm whose entire income is derived from
agricultural operations

Income from Supply of water for irrigation

purpose

Compensation received from insurance co

for damage of any agricultural crop

An employee availed the exemption of leave

encashment of Rs 1,50,000 in past. He
received from the second employer a sum
of Rs 1,50,000 as encashment of leave. He
will be entitles to exemption to the extent of
:*

Rs 1,10,000

Rs 2,60,000

Rs 3,00,000

Rs 1,50,000

Employee's contribution to PPF is (Select

correct statements) *

Fully exempted from tax

Fully Taxable

Eligible for deduction u/s 80 C

None of the above is correct

Gift provided by the employer to the

employee in cash is (select the most
appropriate option) *

Fully Taxable

Fully Exempted

Partly or Fully Exempted

Exempted upto the market value of the gift

If total taxable Income of Ms. Candy is Rs

7,50,000 and she is not eligible for any
deductions , Tax payable by her under New
regime will be (excluding cess) *

62500

37500

12500

70000

An employee who has not received gratuity

, he commuted 60% of his pension and got
Rs 15,00,000 paid by his employer. The
exemption in this case will be available for *

Rs 12,50,000

Rs 8,33,333

Rs 9,00,000

Rs 6,00,000

Under new regime, an employee is eligible

for standard deduction from his gross salary
amounting to: *

Rs 12500

Rs 50000

Nil

Rs 2500

Mr. X is an person of Indian Origin who

came to India during the pervious year for
the first time on 1st April 2020 and went
back on 31st March 2021. what will be his
residential status for the A/Y 2021-22? *

Ordinary Resident

Non-Ordinary Resident

Deemed to be Resident

Non-Resident

Cost of collection is low# It is easy to

collect# It doesn't discourage work----
Identify the type of tax *

Direct Tax

Indirect Tax

Wealth Ta

Salary of an employee is Rs 3,00,000. Rent

paid by the employer for the unfurnished
house provided to employer at Moradabad
is Rs 3000 p.m. The employer charges Rs
2000 p.m. as rent from the employee. The
valuation of this perquisite shall be: *

Rs 18,000

Rs 6,000

Rs 12,000

Nil

Mr. Ram is an Ordinary resident during the

pervious year 2020-21, which of the
incomes will be taxable in hands his hands
for the A/Y 2021-22 *

Income from a business in Mumbai

controlled from UAE

Rent received from a property in Bhopal

Honorarium received during an onsite

assignment in UK

Income received from a business in Nepal

which is controlled from Bangladesh

Mr. A is entitled for Children education

Allowance @ Rs 100 p.m. per child for 3
children. It will be exempted to the extent of
*

Rs 240 p.m.

Rs 160 p.m.

Rs 200 p.m.

Rs 20 p.m.

Commuted pension received by Govt

employee is *

Fully exempted

Fully Taxable

Partially Taxable

Exempted to the limit of actual expenditure

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