Which of the following income of Registered Trade Union is liable to tax under the Income Tax Act, 1961 ?
CS Executive · Tax Laws · PYQS · June 2024
Which of the following income of Registered Trade Union is liable to tax under the Income Tax Act, 1961 ?
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A), (B), (C), (D). Official source note: A/B/C/D i.e. All options may be considered as correct. Since, All incomes of Registered Trade Union are chargeable to Tax though an exemption is available u/s 10(24) with respect to income under the head House Property and Income from Other Sources. The question asked about liable to tax may be inferred as chargeable to tax.
Topics: Income Tax
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