A. an employee of private sector.B. an employee of a public sector undertaking.C. a govt. employee.D. none of these.
Tag: Income Tax MCQs
Employers contribution to RPF is exempted up to……………….
A. 10% of salary.B. 13% of salary.C. 12% of salary.D. 11% of salary.
Interest on RPF balance is exempted up to…………………..
A. 9.75%.B. 9.5%.C. 10%.D. 12%.
Value of rent free accommodation a house owned by employer in case of non- Govt. employees with above 25 lakhs population is………………………
A. 10% of employees salaryB. 15% of employees salaryC. 7.5% of employee salaryD. 20% of employees salary
Value of rent free accommodation in case of Govt. employee shall be taxable up to…………………..
A. 15% of employees salary.B. 7.5% of employees salary.C. license fee fixed by govt.D. 10% of employees salary.
An employee is deemed as specified employee if he is a director in the company or has substantial in the company or his chargeable salary per annum exceeds.
A. rs. 5,00,000.B. rs. 2,00,000.C. rs. 1,00,000.D. rs. 50,000.
The value of Interest free concessional loans to employees is determined on the basis of lending rates of ………………… for the same purpose.
A. sB. i. b. r.b.i.C. central govt.D. state govt.
Perquisites to employees are covered in the I.T. Act 1961 under……………….
A. sec 2a.B. sC. 17b. c. sec 28a.D. sec. 36 c.
A Perk is…………………….
A. cash paid by employer to employeeB. facility provided by employer to employeeC. amount credited to employees.D. none of these accounts.
Entertainment allowance to govt. employees is exempted, which is least of 20% of basic salary or actual allowance or……………..
A. rs. 1,000.B. rs. 2,000.C. rs. 20,000.D. rs. 5,000.