Exemption U/S 10(48C) of the Income Tax Act, 1961 is available to:

CS Executive · Tax Laws · PYQS · December 2023
Exemption U/S 10(48C) of the Income Tax Act, 1961 is available to:
(A) Oil and Natural Gas Co. Ltd.
(B) Indian Strategic Petroleum Reserves Limited
(C) Gas Authority of India Ltd.
(D) All the above

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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