31. Tax Liability for the individual for 2016-17 who is not the resident of the India whose income ` 2,50,000 to ` 5,00,000 is_______________.
10% of total income minus ` 2,00,000
10% of total income minus ` 1,00,000
15% of total income minus ` 1,00,000
None of the above
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32. If an employer transfers second-hand motor car to the employee, the prerequisite is valued at___________________.
Actual cost less depreciation @ 30% for every completed year under the straight-line method
Actual cost less depreciation @ 20% for every completed year under WDV method
Actual cost less depreciation @ 30% for every completed year under WDV method
Actual cost less depreciation @ 20% for every completed year under SLM method
33. The following is not taxable as income under the head “Salaries”:
Commission received by a full-time director
Remuneration received by a partner
Allowances received by an employee
Free accommodation is given to an employee
34. The following is exempt income from Income Tax:.
Travel concession to employee
Remuneration received for valuation of answer scripts
Encashment of leave salary whilst in service
Perquisites in India
35. Advance salary is taxable and advances against salary is______________________.
UGC NET PAPER 1
UGC NET Management
UGC NET COMPUTER SCIENCE
UGC NET COMMERCE
GATE COMPUTER SCIENCE
CFA Level 1
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