AAFM CTEP Exam - Topic 2 Question 74 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 74
Topic #: 2

[All CTEP Questions]

Mr. Subhash Bansal, a marketing manager is employed with IMFB limited. He took an advance of Rs. 1,20,000 against the salary of Rs. 30,000 per month in the month of March 2007. The gross salary of Mr. Adhikari for the assessment year 2012-13 shall be:

BRs. 4,80,000

CRs. 2,40,000

DRs. 3,80,000

ARs. 3,60,000

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Suggested Answer: A

by Ben at Jan 25, 2026, 12:06 AM

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Tanesha

20 days ago

This question reminds me of a similar practice question we did about salary advances. I think we need to consider the total salary for the year, but I'm a bit confused about the deductions.

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Buffy

25 days ago

I remember we discussed how advances against salary can affect gross income, but I'm not sure how to calculate it for different assessment years.

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Sage

1 month ago

This looks like a tricky one. I better re-read the question carefully and make sure I understand all the details before attempting to solve it.

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Marcelle

1 month ago

The question is a bit confusing, but I'll try to break it down step-by-step and see if I can figure it out.

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Marcos

1 month ago

Okay, I think I've got it. I'll calculate the total salary for the year and then subtract the advance amount.

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Coletta

2 months ago

Hmm, not sure how to handle the advance taken in March 2007. Do I need to deduct that from the total salary?

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Louvenia

2 months ago

This seems straightforward, just need to calculate the total salary for the assessment year.

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