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Q. The income is chargeable under the head of salary under ……………of Income Tax Act, 1961.

Q. The following is not taxable as income under the head “Salaries”:

Q. Income tax is collected on all types of income except .

Q. The entertainment allowance is applicable to .

Q. Mr. Ram owns a house property. He lent it to Laxman at ` 10,000 p.m. Laxman sublet it to Mr. Maruti on monthly rent of ` 20,000 p.m. Rental income of Laxman is taxable under the head .

Q. Mr. R owns a house. The Municipal value of the house is ` 50,000. He paid ` 8,000 as local taxes during the year. He uses this house for his residential purposes but lets out half of the house @ ` 3,000 p.m. The annual value of the house is.

Q. ………………..standard deduction from annual value is allowed.

Q. The rate of tax for the financial year 2016-17 for the foreign companies is

Q. Which of the following are true regarding taxing the rich?

Q. The interest on loan paid by the Government of India to a non-resident outside India is………..in India.