Deck 2: Taxation and Allowances

Question 1

Full form of TDS

A)Tax deducted at source
B)Tax deducted for source
C)tax deducted by source
D)none of above

Answer 1

Tax deducted at source

Question 2

profit or income of that particular year.

A)set off
B)carry forward
C)none of above
D)both of above

Answer 2

set off

Question 3

Capital LosseCan be carry forward up to next______________assessment years from the assessment year in which the loss was incurred

A)8
B)4
C)2
D)5

Answer 3

8

Question 4

which of the following are the basic condition to become resident of india

A)He must be in India for 182 days or more in relevent previous year
B)He must be in India for 60 days or more in Relevent Previous year AND In preceding 4 previous year he must be in
C)both a and b
D)none of the above

Question 5

Salary should have relationship

A)employer employee
B)Master and servent
C)both a and b
D)none of the above

Question 6

salary is chargeable to tax on

A)Receipt
B)due
C)Receipt or due whichever is earlier
D)none of the above

Question 7

Arear on salary are taxable on             

A)Receipt
B)due
C)Receipt or due whichever is earlier
D)none of the above

Question 8

means fixed quantum of money given regularly in addition to salary to meet particular requirement

A)Allowance
B)Perquisites
C)pension
D)none of the above

Question 9

An allowance to meet the expenses in connection with the rent of the house, by whatever name called

A)House Rent allowance
B)Perquisites
C)pension
D)none of the above

Question 10

It is an extra amount given to an employee to meet the burden of inflation or increased cost of living.

A)House Rent allowance
B)Dearness allowance
C)both a and b
D)none of the above

Question 11

Which of the allowances are fully taxable

A)Dearness allowance
B)Lunch allowance
C)Medical allowance
D)All of the above