A Company has …………. types of residential status. A) 2 B) 3 C) 1 D) 4

1 Answer

Answer :

A) 2

Related questions

Description : Dividend from an Indian Company is ………………… A) Fully Taxable B) Partly Taxable C) Fully Exempted D) None of these

Last Answer : C) Fully Exempted

Description : Foreign allowance is a ……………. A) Fully Exempted Allowance B) Fully Taxable Allowance C) Partly Exempted Allowance D) None of these

Last Answer : A) Fully Exempted Allowance

Description : Transport allowance given by the employer to the employee is exempt up to ……….. A) Rs.1000p.m B) Rs.1600p.m C) Rs.1000p.a D) Rs.1600p.a

Last Answer : B) Rs.1600p.m

Description : Children hostel allowance is exempt up to per month per child for two children. A) Rs.100 B) Rs.200 C) Rs.250 D) Rs.300

Last Answer : D) Rs.300

Description : Children education allowance is exempt up to per month per child for two children. A) Rs.100 B) Rs.150 C) Rs.200 D) Rs.250

Last Answer : A) Rs.100

Description : Any allowance granted for encouraging research, academic and other professional pursuit is called ……………………… A) Research Allowance B) Academic Allowance C) Higher Educational Allowance D) Educational Allowance

Last Answer : any allowance granted from encouraging research or Academy and other professional fruit suit is called what

Description : Entertainment allowance is allowed as a deduction as per section …………… A) 16 B) 16(i) C) 16(ii) D) 16(iii)

Last Answer : C) 16(ii)

Description : If the assessee is living in own house HRA is ………….. A) Fully Taxable B) Partly Taxable C) Fully Exempted D) None of these

Last Answer : A) Fully Taxable

Description : Agricultural income in Pakistan is assessable for........................ A) Resident B) Not Ordinarily Resident C) Non-resident D) Not taxable

Last Answer : A) Resident

Description : Rule ….. explain the taxation of HRA A) 2 B) 2A C) 2AA D) 2AB

Last Answer : 2A

Description : HRA is ……………….. A) Fully Taxable B) Partly Taxable C) Fully Exempted D) None of these

Last Answer : B) Partly Taxable

Description : Payment made by an employer to employee monthly, other than salary is called …………. A) Bonus B) Allowances C) Benefits D) None of these

Last Answer : B) Allowances

Description : The highest Administrative Authority for Income Tax in India is............ A) Finance Minister. B) CBDT. C) President of India. D) Director of Income Tax.

Last Answer : B) CBDT

Description : Gratuity is defined as per section ……….. A) 10(10A) B) 10(10AA) C) 10(10) D)10A

Last Answer : C) 10(10) 

Description : Bonus paid by the employer to the employee is ………… A) Fully Taxable B) Partly Taxable C) Fully Exempted D) None of these

Last Answer : A) Fully Taxable

Description : When an URPF is recognized, the balance so transferred is called …………. A) Recognized PF B) Transferred PF C) Recognized Balance C) Transferred Balance

Last Answer : C) Transferred Balance

Description : Salary is defied as per section ………. A) 15(2) B) 16(1) C)17(2) D)17(1)

Last Answer : D)17(1)

Description : Income from Salary is explained in the section …………………… A) 12 to 14 B) 15 to 17 C) 18 to 22 D) 24 to 26

Last Answer : B) 15 to 17

Description : Income exempted from tax are stated in the section……. Of Income Tax Act. A) 5 B) 10 C) 12 D) 8

Last Answer : B) 10

Description : Expenditure incurred on exempted income is …………. as deduction. A) Fully Allowed B) Partly Allowed C) Not Allowed D) None of these

Last Answer : C) Not Allowed

Description : Who is assessee in case of a HUF? A) Karta B) Coparceners C) Deemed Karta D) None of these 

Last Answer : A) Karta

Description : A citizen of India who goes abroad for the purpose of employment, he must stay in India in the previous year for at least ............................. days to become a resident A) 90 days B) 162 days C) 180 days D) 182 days

Last Answer : D) 182 days

Description : To be an Ordinarily resident in India, an individual must satisfy ………………………. A) Both Basic Conditions and One Additional Condition B) One Basic Condition and Both Additional Conditions C) One Basic Condition and One Additional Condition D) Both Basic Conditions and Both Additional Conditions

Last Answer : B) One Basic Condition and Both Additional Conditions

Description : CBDT is control by ………………………………….. A) Central Government B) State Government C) Both (A) and (B) D) None of this above

Last Answer : A) Central Government

Description : CBDT stands for ………………………….. A) Central Bureau of Direct Taxes B) Central Board of Direct Taxes C) Citizen’s Board of Direct Taxes D) Citizen’s Bureau of Direct Taxes

Last Answer : B) Central Board of Direct Taxes

Description : As per Income tax Act, Person includes …………… A) Individual B) HUF C) Local Authority D) All of the above

Last Answer : D) All of the above

Description : Educational cess is charges at the rate of …….. A) 2% B) 1% C) 3% D) 5%

Last Answer : C) 3%

Description : Surcharge is levied when the total income exceeds ………………….. A) 5 Crore B) 10 Crore C) 1 Crore D) 2 Crore

Last Answer : C) 1 Crore

Description : When the income earned in an year is taxed in the same year, it is called ………………….. A) Advanced Assessment B) Super Assessment C) Accelerated Assessment D) None of the above

Last Answer : C) Accelerated Assessment 

Description : Assessment year is the period of 12 months commencing from ……………. Every year. A) 1st March B) 31st March C) 1st April D) 30 th April

Last Answer : C) 1st April

Description : Section 2(9) of Income tax deals with………….. A) Person B) Assessee C) Previous Year D) Assessment Year

Last Answer : D) Assessment Year

Description : Rebate of Income tax is defined as per section …………….. A) 81A B) 87A C) 81C D) 87C

Last Answer : B) 87A

Description : The minimum exceptional limit of income is………………. A) 250,000 B) 200,000 C) 300,000 D) 500,000

Last Answer : C) 300,000

Description : A person with the age of ………… or more is considered as a super senior citizen as per Income tax Act. A) 56 B) 60 C) 80 D) 85

Last Answer : C) 80

Description : There are …………… heads of income A) 3 B) 4 C) 5 D) 2 

Last Answer : C) 5

Description : Income tax rates are fixed in…………….. A) Income tax Act B) Finance Act C) Income tax rules D) Finance rules 

Last Answer : B) Finance Act

Description : Income tax is a…………………. A) Professional tax B) Direct tax C) Indirect tax D) Service tax

Last Answer : B) Direct tax

Description : Income Tax Act came into force on………… A)1 st April 1935 B) 1 st April 1961 C) 1 st April 1962 D) 1 st April 1956

Last Answer : C) 1st April 1962

Description : Income Tax Act was passed in the year………. A) 1934 B) 1956 C) 1961 D) 1972

Last Answer : C) 1961

Description : Which is the best Residential And Commercial Construction Company In India?

Last Answer : 7 M Constructions has gained reputation as the leading residential and commercial construction company in India, only because of its sheer dedication to excellence and innovation. We believe in ... , offices, factories, warehouses, company buildings among other commercial spaces.As an organisation,

Description : Which is the best residential interior designing company in Pune?

Last Answer : Alacritys is the best residential interior designers in Pune. Our Expertise includes bungalow villa interiors, 2bhk, 3bhk, 4bhk flat apartment interiors. Our scope of ... 3bhk flat in PuneCost of interior design for Bungalow & Villa in Pune#Alacritys #Residential_Interior_Designing_Company_In_Pune

Description : For residential moving Houston Texas which is the most reliable company?

Last Answer : We always get worried about our valuable and delicate items while moving. It is obvious as we have lots of memories attached to our household things. So for the most reliable and responsible moving ... on your items to ensure safe transport. So with a full guarantee choose the Texas Movers Group.

Description : Which company provides the best Residential Roof Repair in Idaho?

Last Answer : With all the exposure to sun, monsoon rain, and debris here in Arizona, it takes an experienced roofing company to ensure that your residential roof is durable, attractive, and can handle ... service to make sure that our customers receive the best residential roof in Phoenix experience possible.

Description : Is there any company that provides the best Residential Roof Repair services in Ontario Oregon?

Last Answer : Finding the best residential roof repair services in Ontario is not a difficult task. I know that the cracked roof is the main problem that most homeowners face after their roofs get older. I ... work without any hassle. I highly recommend you to take services from this well-established company.

Description : List the types of Internal wiring in residential installations –

Last Answer : 1) Cleat wiring 2) Batten wiring 3) Wooden casing capping wiring 4) PVC conduit wiring 5) PVC casing capping wiring 6) Concealed wiring

Description : What can you tell me about nonprofit status? Specifically, negotiating a public charity vs. private foundation status for a theatre company?

Last Answer : Get a grant writer / 501 ( C ) 3 specialist, I'm in an organization that recently changed to a non-profit. It cost us only $250 for the specialist she collated all of our meeting minutes for many years, ... and it took us 9 months from filing to receive the non-profit status as a 501 ( C ) 3.

Description : In which of the following conversion the investors enjoy the same status as ordinary shareholders of the company? A. Secured Debentures B. Partly Convertible Debentures (PCD) C. Fully convertible Debentures (FCD) D. Optionally Convertible Debentures (OCD) E. Unsecured Debentures

Last Answer : C. Fully convertible Debentures (FCD) Explanation: These are fully convertible into Equity shares at the issuer‘s notice. The ratio of conversion is decided by the issuer. Upon conversion the investors enjoy the same status as ordinary shareholders of the company.

Description : In the 1950s, there were perhaps four consumer products that were status symbols in China—the wristwatch, the sewing machine, the radio, and one more, usually manufactured by the Forever company from Shanghai. There is an Ai Wei Wei installation that bears this company’s name

Last Answer : Bicycles.

Description : What are a list of chemical elements and alloys that can be melted in a typical residential food oven?

Last Answer : I’ve got a slug of a Bismuth Cadmium, Lead, Tin alloy that melts at about 150F , 65C. It melts in hot water. It’s toxic so it’s probably not a good idea to touch it or use kitchen tools.

Description : In planning a house, what are some residential features and/or preparations that can be made in the event of a prolonged power outage?

Last Answer : Look at my house. I have 2 wood burning stoves as well as an oil fired hot water baseboard heat system, with two 275 gallon storage tanks in the basement that are large enough to cover me for ... . Thermostats are programmable with set-back capability. I can last a long time if there is a disaster.