6. The children education allowance, the amount exempted from taxable income is limited to
` 100 per month per child up to 3 children
` 1,000 per year per child up to 2 children
` 100 per year per child up to 2 children
None of the above
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7. If the employee receives retirement gratuity from more than one employer, he can claim the exemption in respect of_________.
Not from single employer
8. The family pension received by the family members of armed forces after the death of an employee is__________.
Exempted after fulfilling of certain conditions
9. The entertainment allowance is applicable to__________.
Private sector employees
Public sector employees
All of the above
10. The entertainment tax allowed as a deduction under Section 16 of the Income Tax Act is the least of___.
The actual amount of entertainment allowance received
20% of the basic salary of the individual
UGC NET PAPER 1
UGC NET Management
UGC NET COMPUTER SCIENCE
UGC NET COMMERCE
GATE COMPUTER SCIENCE
CFA Level 1
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