Seshan, a retired civil servant received monthly pension of Rs. 60,000 during the previous year 2018-19. The amount of pension liable to tax after standard deduction would be Rs. ________.

Related MCQs

• When a charitable trust registered u/s 12AA pays Rs. 50,000 towards rent to a resident for the premises occupied by it without deduction of tax at source for the entire previous year 2018-19, the amount of rental expenditure liable for disallowance would be ________.
• An individual, being foreign national, came to India first time during the previous year 2017-18 on 01-01-2018 for 200 days, his residential status for the previous year 2017-18 is.
• In the case of a domestic company (turnover/gross receipts Rs. 70 crores), the basic rate of income-tax applicable for computing as per normal provisions would be ________, when the turnover of the company has been Rs. 45 crores in the previous year relevant to the assessment year 2017-18. (Note: Ignore surcharge, education cess, etc.)
• A senior citizen having total income consisting of pension and let out property income aggregating to Rs. 6 lakhs must have paid advance tax during the financial year 2015-16 of
• Mr. Ramji is employed in ABC Ltd. who maintained a hospital for treatment of employees. During the financial year 2015-16, the value of medical benefit availed by Ramji’s family from the hospital was Rs. 2,10,000. The amount of medical perquisite chargeable to income tax would be
• Mr. Atul (aged 63), a resident Indian, paid for himself through account payee cheque, health insurance premium of Rs. 2,10,000 for 5 years in one lump sum on 28.03.2019. The eligible amount of deduction under section 80-D for the assessment year 2019-20 would be _______.
• When the amount is withdrawn from National Pension System Trust, it is chargeable to tax to the extent the withdrawal exceeds ______________ % of the contribution of the assessee.
• When tax is not deducted at source on annual rent of Rs.2 lakhs paid to landlord by a company, the amount liable for disallowance under section 40(a) (ia) is
• Manoj,a resident, employed in ABC Ltd., an Indian company, has gross annual salary income of Rs. 20,60,000. The standard deduction available under section 16(1) would be _________ .
• Padmaja Power Co. (P) Ltd. is engaged in generation and distribution of electrical power. It avails deduction under section 80-IA. The gross receipts of the company is Rs. 89 lakhs. The last date for filing the return of income in order to be eligible to avail deduction under section 80-IA is ________________ . (Note: Assume there is no extension of time for filling the return of income)