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Income-tax and Corporate Tax Planning MCQ - Income Tax and Corporate Tax Planning Section 2

31 Tax Liability for the individual for 2016-17 who is not the resident of the India whose income ` 2,50,000 to ` 5,00,000 is_______________.

32 If an employer transfers second-hand motor car to the employee, the prerequisite is valued at___________________.

A
Actual cost less depreciation @ 30% for every completed year under the straight-line method
B
Actual cost less depreciation @ 20% for every completed year under WDV method
C
Actual cost less depreciation @ 30% for every completed year under WDV method
D
Actual cost less depreciation @ 20% for every completed year under SLM method

33 The following is not taxable as income under the head “Salaries”:

34 The following is exempt income from Income Tax:.

35 Advance salary is taxable and advances against salary is______________________.

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Question:

The assesses can claim relief under________________for arrears or advance salary.

A. Section 89(1)
B. Section 89(2)
C. Section 89(3)
D. Section 89(4)

Correct answer: A

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