PREVIOUS YEAR SOLVED PAPERS - December 2018
36. Which one of the following is agricultural income under Income Tax Act?
- A
Income from the sale of replanted trees where denuded parts of the forest are replanted and subsequent operations in forestry are carried out.
- B
Income from dairy farm, poultry farm, etc.
- C
Dividend from a company engaged in agriculture.
- D
Income from the land used for storing agricultural produce.
- Option : A
- Explanation : Examples of Agricultural Income
The following are some of the examples of agricultural income:
∎ Income derived from sale of replanted trees.
∎ Income from sale of seeds.
∎ Rent received for agricultural land.
∎ Income from growing flowers and creepers.
∎ Profits received from a partner from a firm engaged in agricultural produce or activities.
∎ Interest on capital that a partner from a firm, engaged in agricultural operations, receives.
Examples of Non-Agricultural Income
The following are some of the examples of non-agricultural income:
∎ Income from poultry farming.
∎ Income from bee hiving.
∎ Any dividend that an organization pays from its agriculture income.
∎ Income from the sale of spontaneously grown trees.
∎ Income from dairy farming.
∎ Income from salt produced after the land has flooded with sea water.
∎ Purchase of standing crop.
∎ Royalty income from mines.
∎ Income from butter and cheese making.
∎ Receipts from TV serial shooting in farm house.
- Option : C
- Explanation : Multiple Purposes of Performance Assessment
General Applications Specific Purpose Developmental Uses ∎ Identification of individual needs ∎ Performance feedback ∎ Determining transfers and job assignments ∎ Identification of individual strengths and developmental needs Administrative Uses/Decisions ∎ Salary ∎ Promotion ∎ Retention or termination ∎ Recognition of individual performance ∎ Lay-offs ∎ Identification of poor performers Organisational Maintenance/Objectives ∎ HR planning ∎ Determining organisation training needs ∎ Evaluation of organisational goal achievement ∎ Information for goal identification ∎ Evaluation of HR systems ∎ Reinforcement of organisational development needs Documentation ∎Criteria for validation research
∎ Documentation for HR decisions
∎ Helping to meet legal requirements
40. Which one of the following items is not a part of job specification?
- Option : C
- Explanation : Job Specification: Job specification or
employee specification is a statement which
answers the question, “What human qualities
and traits are necessary to do the job well?”
It is a written record of the physical, mental,
social, psychological, and behavioural
characteristics which a person should possess
in order to perform the job effectively. In
contrast to the job description it is a standard
of personnel and designates the qualities
required for acceptable performance. A job
description is a profile of the job. A job
specification, on the other hand, describes
what the job demands of the employee and
the human skills that are required. It is a
profile of the human characteristics needed
by the person performing the job. It is a
statement of essential and desirable attributes,
which a person must possess. It contains
information in terms of education, experience,
training, judgement, initiative, physical effort,
physical skills, communication skills and
emotional characteristics.
The job specification is a major tool in the staffing process. It is also helpful in training and appraisal of employees. It is also useful in testing, interviewing and checking of reference.
