AAFM CTEP Exam - Topic 2 Question 74 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 74
Topic #: 2

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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Queen

5 days ago

Advances don't affect gross salary.

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Jimmie

10 days ago

But what about the advance?

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Pilar

15 days ago

Yes, total should be Rs. 3,60,000.

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Francoise

20 days ago

Rs. 30,000 per month for 12 months, right?

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Queen

25 days ago

I think it's about gross salary calculation.

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Jimmie

1 month ago

Confusing question!

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Corrie

3 months ago

Not sure if this is a smart move, seems risky to me.

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Florencia

3 months ago

I agree, that's quite a risk to take!

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Youlanda

3 months ago

Wait, is this advance deducted from his gross salary?

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Darrel

3 months ago

That's a huge advance for a monthly salary of Rs. 30,000!

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Fausto

3 months ago

Mr. Bansal took an advance of Rs. 1,20,000.

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Amber

3 months ago

This question is a real head-scratcher. I'm going to go with Rs. 3,60,000, but I'm not entirely confident about it.

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Chun

4 months ago

Haha, I bet Mr. Subhash Bansal is regretting that advance now. He's probably wishing he had just stuck to his regular salary.

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Aja

4 months ago

I think the answer is Rs. 3,60,000. The question states that Mr. Subhash Bansal took an advance of Rs. 1,20,000 against a monthly salary of Rs. 30,000, so the gross salary for the assessment year 2012-13 would be 5 years' worth of that salary.

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Amie

4 months ago

Wait, isn't Mr. Adhikari's name supposed to be Mr. Subhash Bansal? This question is confusing.

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Billy

4 months ago

The gross salary of Mr. Adhikari for the assessment year 2012-13 shall be Rs. 3,60,000.

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Beckie

4 months ago

If I recall correctly, the advance shouldn't affect the gross salary directly, but I need to double-check how it factors into the overall taxable income for Mr. Adhikari.

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Lavonna

4 months ago

I think the gross salary would just be the monthly salary multiplied by the number of months, but I'm not entirely sure if the advance impacts that calculation.

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Tanesha

5 months 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

5 months 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

6 months 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

6 months 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

6 months 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

6 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

6 months ago

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

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