Match the items of List-I with the items of List-II and choose the correct answer:
List-I | List-II |
a. Compensation received by an employee from his employer on termination of job | 1. Exemption up to specified limit |
b. Pension received by the widow of an employee | 2. Profits in lieu of salary |
c. Foreign allowance for rendering services abroad | 3. Income from other sources |
d. Children hostel allowance | 4. Fully exempt from tax |
A. a-2, b-4, c-3, d-1
B. a-2, b-3, c-4, d-1
C. a-4, b-3, c-1, d-2
D. a-3, b-4, c-2, d-1
Answer: Option B
Related Questions on Income Tax and Corporate Tax
A. 3, 4 and 5
B. 2, 4 and 5
C. 1, 2 and 3
D. 1, 3 and 5
Entertainment allowance for non-government employees are:
A. Fully exempted
B. Fully taxable
C. Partially taxable
D. Fully exempted in specified
E. Partially exempted in selected areas
In tax laws, donation to approved and notified association for scientific research is allowed as:
A. 125% of the donation
B. 100% of the donation
C. 175% of the donation
D. 150% of the donation
A. Both the Statements (I) and (II) are correct
B. Statement (I) is correct, but (II) is incorrect
C. Both Statements (I) and (II) are incorrect
D. Statement (II) is correct, but (I) is incorrect
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