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 : 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 : 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 : 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 : 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
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 : 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 : 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 : 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 : 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 : A Company has …………. types of residential status. A) 2 B) 3 C) 1 D) 4
Last Answer : A) 2
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 : From Subsistence allowance the employer can deduct GPF subscription The above mentioned statement is a. True b,False
Last Answer : b,False
Description : How much is the travel allowance for per diem positions? And no health insurance even if you work as many hours as a part-time employee?
Last Answer : answer:What state requires employers to provide health insurance? With a few limited exceptions, the costs of commuting between home and work are nondeductible personal expenses. If an employer pays an ... most likely receive a form of additional wages, fully subject to income and payroll taxation.
Description : From the following deduction , which deduction from subsistence allowance is needed prior consent from suspended employee a. Deduction related with income tax b. Repayment of loans and advance taken from government c. Deduction related with PLI premium
Last Answer : c. Deduction related with PLI premium
Description : HSK, an LLP has taken keyman insurance policy on the life of its managing partner. The policy got matured on 13th September 2017 and an amount of rupees 75 lakhs was paid by the insurers to the Managing partner ... c. rupees 75 lakh is taxable d. rupee 25 lakh is exempt and Rs 50 lakh is taxable
Last Answer : c. rupees 75 lakh is taxable
Description : Why would an employer get upset about an employee taking more then one sick day in a row?
Last Answer : The employer is unwilling or unable to accommodate the loss of labor for more than a day. That’s an employer problem.
Description : What could have prevented the following employer vs employee court case?
Last Answer : Edited to add the 1st link (which is the court case in question.) Sorry.
Description : It's illegal for an employer to pay less than minimum wage, but what if it's what the employee wants them to do?
Last Answer : answer:Paying less than minimum wage, except in some service industries where it is assumed tips will make up the difference, is a violation of federal regulations. I lived in an area where the crew at ... resolved when the workers were put on part time and the mill was open only 30 hours a week.
Description : We have to go to a baby once every four hours. It is normal?
Last Answer : In urgent cases, the employer must allow the employee to leave outside the specified time.
Description : How many W2 copies is an employer obligated to send to an employee?
Last Answer : Need answer
Description : Can an employer place a camera in an employee locker room?
Last Answer : I would think that if you dress and undress there the answer isno. If you don't it is possible that they could monitor it.
Description : Can an employer dismiss an employee that is under medical treatment due to workplace injury?
Last Answer : No if you are off work due to a injury sustained there they can not terminate your employment that would be illegal.