Allowances of MP/M.L.A / or M.L.C are.
A. fully exempted.
B. fully taxable.
C. partly exempt
D.
✅ The correct answer is option A.
Any payments made under and awards instituted by central or state Governments are…………..
A. fully exempted
B. fully taxable
C. partly exempt
D.
✅ The correct answer is option A.
Scholarship granted is……………….
A. fully exempted.
B. fully taxable.
C. partly exempt
D.
✅ The correct answer is option A.
Incomes absolutely exempt from Tax are listed under………………………..
A. sec 2.
B. sec 10.
C. sec 38.
D. sec. 80c.
✅ The correct answer is option B.
Exempted incomes are defined under section…………….
A. 15 of income tax act.
B. 18 of income tax act
C. 10 of income tax act.
D. 20 of income tax act.
✅ The correct answer is option C.
Incomes on which Income tax is not charged are called…………..
A. exceptional incomes
B. privileged incomes
C. exempted incomes.
D. none of the above
✅ The correct answer is option C.
Income accrued and received outside India is taxable in the hands of………………………
A. non-resident.
B. resident and ordinarily resident.
C. resident and not ordinarily.
D. none of these residents.
✅ The correct answer is option B.
Income accrued in India is taxable in the hands of……………………….
A. non-resident only.
B. resident and not ordinarily resident only.
C. all assesses.
D. resident and ordinarily resident only.
✅ The correct answer is option C.
Income received in India is taxable in the hands of………………………
A. resident only.
B. resident and ordinarily resident only.
C. non-resident only.
D. all assessees.
✅ The correct answer is option D.
What are the exemption limit in Hostel Expenditure Allowance?
A. rs.200pm
B. rs.300pm
C. rs.400pm
D. rs.500pm
✅ The correct answer is option B.