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Q. Total income is to be rounded off to nearest multiple of …………….and tax is to be rounded off to nearest multiple of .

Q. Gift to employee up to p.a. will not be treated as perquisite taxable in the hands of employee.

Q. …………. is exempted from income tax.

Q. Deduction under section 80C to 80U cannot exceed .

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

Q. The value of interest-free concessional loans to employees is determined on the basis of lending rates of for the same purpose.

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

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. If the individual using the property for the business or professional purpose the income taxable under the……………..head.

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