QUESTION: 157 Exam Topic: 2, Volume B

Any income chargeable under the head "Salaries" is exempt from tax under Section 10(6)(viii), if it is received by any non resident individual as remuneration for services rendered in connection with his employment in a foreign ship where his total stay in India does not exceed a period days in that previous year.

Answer(s): A

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QUESTION: 158 Exam Topic: 2, Volume B

The employer had purchased a car for Rs. 3,00,000 which was being used for official purposes. After 2 year 6 months of its use, the car is sold to R, the employee, for Rs. 1,20,000. The value of this perquisite shall be __________.

Rs. 72,000
Rs. 60,000
Nil
Rs. 1,23,000

Answer(s): A

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QUESTION: 159 Exam Topic: 2, Volume B

An assessee was allowed deduction of unrealized rent to the extent of Rs. 40,000 in the past although the total unrealized rent was Rs. 60,000. He is able to recover from the tenant Rs.45,000 during the previous year on account of such unrealized rent. He shall be liable to tax to the extent of:

Rs. 45,000
Nil
Rs. 25,000
Rs. 35,000

Answer(s): C

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QUESTION: 160 Exam Topic: 2, Volume B

Choose the amount of final tax liability of Mr. Raj for the assessment year 2007-08:

Tax slab for male / HUF(for AY 2007-08)

Rs. 0 to 100000 -- No Income Tax
Rs. 1,00,001 to 1,50,000 -- 10%
Rs. 150001 to 2,50,000 -- 20%
Rs. 2,50,001 and above -- 30%

Note: A surcharge of 10% on income tax amount is payable if total income is exceeding Rs. 10,00,000 and a 2% education cess is payable on the income tax amount and surcharge.

Rs.17,100
Rs.17,442
Rs.15,700
Rs.16,014

Answer(s): B

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QUESTION: 157 Exam Topic: 2, Volume B

QUESTION: 158 Exam Topic: 2, Volume B

QUESTION: 159 Exam Topic: 2, Volume B

QUESTION: 160 Exam Topic: 2, Volume B