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Which salary component is fully taxable?

1/5

Correct Answer

  • Basic salary is always fully taxable. Other components like HRA and LTA may be partially or fully exempt based on eligibility and proof.

Which tax-saving investment falls under Section 80C?

2/5

Correct Answer

  • PPF is eligible for deduction under Section 80C up to ₹1.5 lakhs per annum, helping reduce your taxable income. The other options are exempt under different sections of the Income Tax Act in India.

Optimising which of the following can help increase your in-hand salary?

3/5

Correct Answer

  • Structuring your salary with perks like fuel, meal cards, and gadgets under company policies can boost your in-hand salary by allowing you to claim reimbursements under the old tax regime.

What happens if your salary structure includes variable pay?

4/5

Correct Answer

  • High variable pay depends on your work performance, which can vary every month. So, your monthly in-hand income can change as per the variable pay.

Which of the following is the correct way to claim tax exemption?

5/5

Correct Answer

  • Declaring HRA and submitting valid rent receipts lets you claim tax exemption under HRA benefits, increasing net salary.

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