Q. _______ is the rent fixed under Rent control Act.
✅ Correct Answer: (C)
Standard rent
Audit Taxation MCQs and Notes
Q. The entertainment allowance is applicable to_______________.
✅ Correct Answer: (C)
Government employees
Q. The Payment of Gratuity Act came into force in…………..
✅ Correct Answer: (D)
1972
Q. Rent Free Accommodation given to an employee by the employer is a ____________.
✅ Correct Answer: (B)
Perquisite
Q. Provident Fund Act was passed in the year ___________.
✅ Correct Answer: (A)
1932
Q. Under Section 15 of Income Tax Act, the salary due in previous years and even if it is not received is _______________.
✅ Correct Answer: (B)
Not taxable
Q. The death-cum-retirement gratuity received by the Government Employee or employee of local authority is _______________.
✅ Correct Answer: (B)
Fully exempted
Q. Children Education allowance is exempted for ______ child/ children.
✅ Correct Answer: (B)
Two
Q. The house rent allowance (HRA) under the salary head of Income Tax Act is given by_____________.
✅ Correct Answer: (B)
Section 10(13A)
Q. Family pension received by a widow of a member of the armed forces where the death of the member has occurred in the course of the operational duties, is………………..
✅ Correct Answer: (C)
Totally exempt under section 10(19)