M.claimed the exemption of gratuity in the past to the extent of Rs.2,50,000.He was entitled to the gratuity from the present employer amounting to Rs.2,00,000 in the previous year 2017-18. M can claim exemption to the maximum extent of ___________

Related MCQs

• Employee M is neither a government employee nor covered under payment of gratuity Act, 1972. He has completed 16 years and 8 months of service. The number of completed years considered for gratuity exemption shall be _____________
• M is entitled to children education allowance @80 p.m per child for 3 children amounting Rs.240p.m. It will be exempt to the extent of ___________
• Mr. Joshi runs a chemist`s shop, accounting year of which is the financial year. On November -9,2017.He sets up a chemical factory. What is the previous year for the assessment year 2018-19 for the above two businesses___________________
• M, who is entitled to salary of Rs.12,000 p.m. took advantage salary from his employer for the month of March, 2018 on 31-3-2018.The gross salary of M for assessment year 2018-19 shall__________
• If the asset of a particular block is acquired and put to use during the previous year for less than 180 days, the assessee shall be entitled to depreciation___________
• Interest on borrowed capital accrued up to the end of the previous year to prior to the year of competition of construction is allowed__________
• M,who is entitled to a salary of Rs.20,000 p.m took an advance of Rs.50,000 against the salary in the month of March ,2018. The gross salary of m for assessment year 2018-19 shall be _________
• A new business was set up on 15-11-2017 and it commences its business from 1-12-2017. The first previous year in this case shall be _______________________
• Previous year means the _____________
• M.Ltd announced increase in D.A. on 21-03-2017 with retrospective effect from 21-3-2012 and the same were paid on 6-04-2017. The arrears of D.A. shall be taxable in the previous year ________