134/23

70.

71.

72.

73.

74.

75.

76.

77.

The first exchange for small companies in India
A) NSE B) BSE C) ப்‌ D) None of these

Which is the exception to the general rule taxation of previous year’s income during
the assessment year ?

A) Income of persons leaving India during the current assessment year

B) Transfer of property to avoid tax

C) Income from pension of a retired employee

D) Both A) and B)

Mr. Ais an employee in Textiles company at a salary of rupees 36,000 per month. He is
a member of Recognised Provident Fund to which he and his employer contribute 14%
of his salary. During the year he was given a credit of rupees 10,000 as interest on the
provident balance of rupees 1,00,000. The taxable amount of Annual accretion is

A) Rs. 70,480 B) Rs. 9,140 C) Rs. 46,000 D) Rs. 8,640

Mr. Santhosh resides in Kanpur. He gets a basic salary of rupees 2,00,000 per
annum, Dearness Pay of rupees 1,00,000 per annum and HRA of rupees 1,60,000
per annum. He pays a rent of rupees 1,80,000 per annum. Determine the amount
of HRA chargeable to tax.

A) Rs. 20,000 B) Rs. 1,20,000 C) Rs. 40,000 D) Rs. 1,60,000

Inthe case of let out house the interest on loan deductible u/s 24 taken forthe purchase,
construction or repair of the house property relating to the previous year is

A) Rs. 2,00,000 B) No limit

C) Rs. 30,000 D) None of the above

Which one of the following is an allowable deduction while calculating the Profits and
Gains of Business or Profession ?

A) Excise duty B) Income tax

C) Interest on own capital D) Wealth tax

Under Section 54 B, which one of the capital gain is exempted from tax ?

Capital gain arising on the transfer of property used for residence

Capital gain on compulsory acquisition of lands and buildings

Capital gains arising from the transfer of agricultural land

Capital gain arising from the transfer of assets in the case of shifting of industrial
undertaking from urban area

)
)
)
)

८00 ‏جح‎

Mrs. X is getting a family pension of rupees 30,000 per annum. The taxable amount
of family pension is

A) Rs. 15,000 B) Not taxable C) Rs. 20,000 D) Rs. 30,000

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