During the Financial Year 2023-24 Mr. K won a lottery for ₹ 5,00,000, from this lottery income he deposited ₹ 1,50,000 in PPF. He does not have any other Income. How much tax is to be paid during the assessment year 2024
CS Executive · Tax Laws · PYQS · June 2024
During the Financial Year 2023-24 Mr. K won a lottery for ₹ 5,00,000, from this lottery income he deposited ₹ 1,50,000 in PPF. He does not have any other Income. How much tax is to be paid during the assessment year 2024-25 ?
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
Related Questions in this Topic
- What is the base financial year for calculation for Cost Inflation Index under Income Tax Act 1961?
- Political parties are required to submit their Income Tax Return under which Form?
- The amount specified in the notice of demand under the Income Tax Act is required to be paid within __________ days, oth...
- The assessee who is not satisfied with the order of the assessing officer can:
- Where a commissioner passes a revision order u/s 263 the taxpayer may appeal against the order to :