Q1 of 16 Page 107

Write the correct alternative answer for each of the following questions.

For different types of investments what is the maximum permissible amount under section 80C of income tax?

The maximum amount of deduction that can be claimed under Section 80C of the Income Tax Act is Rs.1.5 lakh.

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1

Observe the table given below. Check and decide, whether the individuals have to pay income tax.

 2

Mr. Kartarsingh (age 48 years) works in a private company. His monthly income after deduction of allowances is Rs. 42,000 and every month he contributes Rs. 3000 to GPF. He has also bought Rs. 15,000 worth of NSC (National Savings Certificate) and donated Rs. 12,000 to the PM's Relief Fund. Compute his income tax.

 1

Write the correct alternative answer for each of the following questions.

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

 2

Mr. Shekhar spends 60% of his income. From the balance he donates Rs. 300 to an orphanage. He is then left with Rs. 3,200. What is his income?