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Direct Tax MCQs: 59 Questions & Answers in Faculty

59 Direct Tax MCQs in Faculty with answers & explanations. Page 2. Practice objective questions for competitive exams, interviews & self-assessment — free on… Use the answer toggle below to show or hide all solutions, tap an option to check one question, or open a question for its own page.

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Direct Tax MCQs: 59 Questions & Answers in Faculty

Municipal valuation of the house is Rs.1,20,000, fair rent 1,40,000, standard rent Rs.1,30,000 and actual rent received or receivable is Rs.1,25, 000.The gross annual value in this case shall be ______

A has two house properties. Both are self-occupied. The annual value of ____

Municipal valuation of the house is Rs.1,00,000 fair rent Rs.1,20,000, fair rent Rs.1,20,000, standard rent Rs.1,10,000 and actual rent received or receivable is Rs.1,40,000. The gross annual value in this case shall be ____________

M.has taken a house on rent and sublets the same to A, income of M from such house property shall be taxable under the head _____________

Leave travel concession is _________

Children education allowance is ____________

Pension received by an employee of the central or state government who has been awarded “Param Vir Chakra” _____________

Entertainment allowance in case of government employee is _________________

M is entitled to children education allowance @80 p.m per child for 3 children amounting Rs.240p.m. It will be exempt to the extent of ___________

Compensation received on voluntary retirement is exempt under sec.10 (10c) to the maximum extent of ___________

Employee M is neither a government employee nor covered under payment of gratuity Act, 1972. He has completed 16 years and 8 months of service. The number of completed years considered for gratuity exemption shall be _____________

M.claimed the exemption of gratuity in the past to the extent of Rs.2,50,000.He was entitled to the gratuity from the present employer amounting to Rs.2,00,000 in the previous year 2017-18. M can claim exemption to the maximum extent of ___________

Un -commuted pension received by a Government employee is ____________

M.Ltd announced increase in D.A. on 21-03-2017 with retrospective effect from 21-3-2012 and the same were paid on 6-04-2017. The arrears of D.A. shall be taxable in the previous year ________

Salary of M becomes due on 1st of next month and it is paid on 7th of that month. For the assessment year 2018-19, the salary of M shall be taken from ________

M, who is entitled to salary of Rs.12,000 p.m. took advantage salary from his employer for the month of March, 2018 on 31-3-2018.The gross salary of M for assessment year 2018-19 shall__________

M,who is entitled to a salary of Rs.20,000 p.m took an advance of Rs.50,000 against the salary in the month of March ,2018. The gross salary of m for assessment year 2018-19 shall be _________

M.a chartered accountant is employed with M ltd, as an internal auditor and requests the employer to call the remuneration as internal audit fee.M. shall be chargeable to tax for such fees under the head __________

Mr. Manmohan Sharma goes out to India every year for 274 days. For the assessment year 2018 -19, he is ____________________

Income accruing in Japan and received there is taxable in India in the case of ______________

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