Professional Documents
Culture Documents
House This indicates the amount paid by the employer This indicates the amount paid by the employer
Rent to the employee to meet the expenditure for to the employee to meet the expenditure for
Allowance residential accommodation occupied by the residential accommodation occupied by the
employee employee
Retrenchment Compensation received by a worker at the Compensation received by a worker at the
Compensation time of retrenchment time of retrenchment
Traveling Any allowance granted to meet the cost of Any allowance granted to meet the cost of
Allowance travel on tour or on transfer of duty. travel on tour or on transfer of duty.
True/False
Question Income from subletting is treated as income from house property.
Correct Answer False
Multiple Choice Multiple Answer
Question In case of Payment of Interest on Securities no tax is required to be deducted under
the following circumstances :-
Correct Answer If the debentures are issued by a widely held company and the debentures are listed
on a stock exchange and if the amount of interest does not exceed Rs. 2,500 during
the financial year. , If the interest paid is on State or Central Government Securities ,
If the debentures are issued by an institution, authority, Public Sector Company or
cooperative society as the Central Government may notify.
Your Answer If the interest paid is on State or Central Government Securities , If the debentures
are issued by a widely held company and the debentures are listed on a stock
exchange and if the amount of interest does not exceed Rs.5,000 during the financial
year.