Income Tax Law and Practice mcq set 2

Q41: Standard deduction allowed from salary for A. Y 2019-20 is: A. Rs: 35,000B. Rs: 40,000C. Rs: 50,000D. None of these AnswerAnswer B. Rs: 40,000 Q42: Entertainment allowance received by an employee of statutory corporation is: A. Fully exemptedB. Fully taxableC. Partly ExemptedD. None of these AnswerAnswer B. Fully taxable Q43: Children education allowance is…

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