Q. Which of the allowances are fully taxable
✅ Correct Answer: (D)
All of the above
Taxation MCQs and Notes
Q. It is an extra amount given to an employee to meet the burden of inflation or increased cost of living.
✅ Correct Answer: (B)
Dearness allowance
Q. An allowance to meet the expenses in connection with the rent of the house, by whatever name called
✅ Correct Answer: (A)
House Rent allowance
Q. means fixed quantum of money given regularly in addition to salary to meet particular requirement
✅ Correct Answer: (A)
Allowance
Q. salary is chargeable to tax on
✅ Correct Answer: (C)
Receipt or due whichever is earlier
Q. of Income Tax Act is related to residential status
✅ Correct Answer: (A)
Section 6
Q. .A is entitled to children education allowance @ Rs. 80 p.m. per child for 3 children amounting Rs. 240 p.m. It will be exempt to the extent of :
✅ Correct Answer: (C)
160
Q. which of the following are the basic condition to become resident of india
✅ Correct Answer: (B)
He must be in India for 60 days or more in Relevent Previous year AND In preceding 4 previous year he must be in