exemption Search

Q:

What is the present Personal Income Tax exemption limit for male individuals below 60 years of age & HUF (FY 2015-16)?

A) Rs. 2.5 lakhs	B) Rs. 3 lakhs
C) Rs. 1.5 lakhs	D) Rs. 4 lakhs

Answer & Explanation Answer: A) Rs. 2.5 lakhs

Explanation:

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Filed Under: Indian Politics
Exam Prep: Bank Exams

Q:

In the following question, out of the four alternatives, select the alternative which is the best substitute of the words/sentence.

Protection or exemption from something, especially an obligation or penalty

A) Castigation	B) Immunity
C) Penance	D) Ostracism

Answer & Explanation Answer: B) Immunity

Explanation:

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Filed Under: English
Exam Prep: Bank Exams

Q:

In the following question, out of the four alternatives, select the word similar in meaning to the word given.

Exemption

A) Immunity	B) Accountability
C) Liability	D) Responsibility

Answer & Explanation Answer: A) Immunity

Explanation:

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Filed Under: English
Exam Prep: Bank Exams

Q:

The Budget proposals also seek to provide relief to salaried tax payers by allowing a standard deduction of what amount in place of the present exemption allowed for transport allowance and reimbursement of miscellaneous medical expenses?

A) Rs. 20,000	B) Rs. 40,000
C) Rs. 50,000	D) Rs. 80,000

Answer & Explanation Answer: B) Rs. 40,000

Explanation:

The standard deduction of Rs. 40,000 is seek to provide relief to salaried tax payers in the Budget proposals in place of the present exemption allowed for transport allowance and reimbursement of miscellaneous medical expenses.

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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

Q:

All of these are exemptions from local real property taxes EXCEPT :

A) Low-income homeowner's exemption	B) Homeowner's exemption
C) Veteran's exemption	D) Senior citizen's tax exemption

Answer & Explanation Answer: A) Low-income homeowner's exemption

Explanation:

Under state law limited exemptions from local real property taxes for individuals who qualify are senior citizens(blind and disabled persons), who may defer their taxes; Veterans, who receive $4000 off assessed value; and homeowners, who receive $7000 off assessed value.

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Filed Under: Bank Interview
Exam Prep: Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

Q:

SEBI decided to give an exemption to some companies from the requirement of the minimum 25 per cent public shareholding. Companies exempted from such requirement should fulfil which of the following norms?

A. They should have market capitalisation of Rs.1,000 crore

B. They should have 20 million shares listed

C. They should have a turnover of Rs.400 crore per annum

A) Only A	B) Only B
C) Only C	D) Both A & B

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