A. set offB. carry forwardC. none of aboveD. both of above
Tag: Income Tax Laws MCQs
Full form of TDS
A. Tax deducted at sourceB. Tax deducted for sourceC. tax deducted by sourceD. none of above
Previous year means the financial year immediately preceding the
A. Accounting yearB. Assesment yearC. non of the aboveD. both
Allowances to Judges of High Court/Supreme Court (Subject to certain conditions)
A. TaxableB. Not taxableC. Both A & BD. none of the above
A is a non-cash benefit granted by an employer to the employee
A. AllowanceB. PerquisitesC. pensionD. none of the above
is a retirement benefit given by the employer to the employee in consideration of past
A. GratuityB. Dearness allowanceC. Lunch allowanceD. House Rent allowance
Advance salary would be taxable basis
A. DueB. receiptsC. both a & bD. none of the above
Outstanding salary would be taxable basis
A. DueB. receiptsC. both a & bD. none of the above
which of the following heads are the head of Income under Income tax Act 1961
A. salaryB. capital gainC. House PropertyD. All of the above
Benefits Given in kind are
A. AllowanceB. PerquisitesC. both a and bD. none of the above