What is Income?
Quiz by Arun Mohan
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- Q1
What is income?
Increase in the amount of liability
Increase in the amount of tax
Increase in the amount of inflation
Increase in the amount of wealth
30s - Q2
What is gross income ?
The total of income from 5 sources according to Indian Tax Law.
The total of income from 4 sources according to Indian Tax Law.
The total of income from 6 sources according to Indian Tax Law.
The total of income from 7 sources according to Indian Tax Law.
30s - Q3
What is Net income?
Income after subtracting the deductions allowed under the provisions of Companies act.
Income after adding the deductions allowed under the provisions of Income tax act.
Income after subtracting the allowances under the provisions of Income tax act.
Income after subtracting the deductions allowed under the provisions of Income tax act.
30s - Q4
Disposable income is also called as -----------------------
take -home-pay
pay=home-take
Gross pay
takeaway home
30s - Q5
For most working people, ------------ are the biggest benefits?
allowances
Deductions
Taxes
Incomes
30s