If loan granted by employer to employee does not exceed …………., it is not treated as perquisite to employee for purpose of income tax.

Related MCQs

• Gift to employee up to p.a. will not be treated as perquisite taxable in the hands of employee.
• Expenditure on free meals to employee in excess of………………per meal will be treated as perquisite of employee.
• As per Income Tax Act, 1961, income tax is charged on the income of at a rates which are prescribed by the Finance Act of relevant assessment year.
• Income tax is collected on all types of income except .
• If the agricultural income is ……….. then the agricultural income is considered for calculating tax.
• The income is chargeable under the head of salary under ……………of Income Tax Act, 1961.
• The following is exempt income from Income Tax:.
• If the employee receives retirement gratuity from more than one employer, he can claim exemption in respect of .
• Income received in India whether occurred in India or outside India, the tax incidence in case of resident but not ordinarily resident is .
• Under Section 15 of Income Tax Act, the salary due in previous years and even if it is not received is .