Children education allowance is ____________
A) Exempt upto lower of the amount actually spent or the prescribed limits.
B) Exempt fully to the extent actually spent or the prescribed limits
C) Exempt to the extent of lower of allowance received or the lump sum amount prescribed, irrespective of actual expenditure.
D) Fully taxable
Correct Answer:
Verified
Q4: Employee M is neither a government employee
Q5: Compensation received on voluntary retirement is exempt
Q6: M is entitled to children education allowance
Q7: Entertainment allowance in case of government employee
Q8: Pension received by an employee of the
Q10: Leave travel concession is _
A)Exempt up to
Q11: M.has taken a house on rent and
Q12: Municipal valuation of the house is Rs.1,00,000
Q13: A has two house properties. Both are
Q14: Municipal valuation of the house is Rs.1,20,000,
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