EASY
Earn 100

 Is personal accident insurance covered under Section 80C?

 

Important Questions on Banking and Taxation

EASY

What will be education cess at the rate of 3% if taxable income is 3,000?

HARD

The income of a government employee in financial year 2013-2014 was 4,10,000. She deposited 24,000 as yearly premium on life insurance policy, 4,000 every month in General Provident Fund and she also purchased a national savings certificate worth 25,000. If a maximum of Rs. one lakh can be invested in any type of saving to qualify for tax rebate, then calculate the payable tax.

The rates of tax are as follows:

Sl.No. Tax Limits Rate of Tax 
1 Up to 2,00,000 NIL
2 2,00,001 to 5,00,000 10%
3 5,00,001 to 10,00,000 20%

In addition, a 3% education cess has to be paid over the income tax. Find your answer in 

EASY

Educational cess at the rate of 3% on given taxable amount 2000 will be:

MEDIUM

The income of a government employee in financial year 2013-2014 was 3,60,000. He deposited 20,000 as yearly premium on life insurance policy and 4,000 every month in General Provident Fund. If a maximum of 1,00,000 can be invested in any type of saving to qualify tax rebate, then calculate the payable income tax.

The rate of tax are as follows:

SL.No. Tax limits Rate of tax
1. Up to 2,00,000 Nill
2. 2,00,001 to 5,00,000 10%
3. 5,00,001 to 10,00,000 20%

In addition, a 3% education cess has to be paid over the income tax. Find your answer in 

EASY

To open an account in a bank PAN is must.

EASY
The tax which is levied on a person's income received from all sources is called _____.
EASY
What is the rate of tax for income tax slab between the income of Rs. 5 lakh to Rs. 7.5 lakh for Assessment year 2020-21?
EASY
What is the rate of tax for income tax slab between the income of Rs. 0.0 to Rs. 2.5 lakh for Assessment year 2020-21?
EASY
What is the rate of tax for income tax slab between the income of Rs. 10.00 lakhs to Rs. 12.50 lakhs for Assessment year 2020-21?
MEDIUM
A shopkeeper was involved in tax evasion. To save sales tax he never gives receipts to his customers. He sold an article for 550 including 10%VAT. Find the amount of VAT not paid by him to the Government. Is tax evasion correct? Why should we pay tax? What measures should we adopt to stop tax evasions?
EASY

Check whether Miss. Nikita has to pay income tax. Write Yes/No.

Name Age Taxable Income Will have to pay income tax or not
Miss. Nikita 27  2,34,000 _____
EASY

Rate of GST on essential commodities is

EASY
What is the rate of tax for income tax slab between the income of Rs. 12.50 lakhs to Rs. 15.00 lakhs for Assessment year 2020-21?
EASY

A person has earned his income during the financial year 2017-18. Then his assessment year is 

EASY
The tax levied by the central government for trading within state is _____,
MEDIUM

Which of the following refers to the difference between indirect taxes and subsidies.

MEDIUM

Select the direct tax from the following.

MEDIUM
Ramu bought a fan for 1080 including 8% VAT. The price of the fan in rupees before VAT was added is _____.