Hari (age 40 years) a resident individual has gross total income of ₹11,20,000 before deduction under Chapter VI-A. He has deposited ₹1,40,000 in PPF account and paid health insurance premium of ₹30,000 for himself and w
CS Executive · Tax Laws · PYQS · June 2023
Hari (age 40 years) a resident individual has gross total income of ₹11,20,000 before deduction under Chapter VI-A. He has deposited ₹1,40,000 in PPF account and paid health insurance premium of ₹30,000 for himself and wife. How much is his income tax liability for the assessment year 2023-24 on the assumption that he has opted for section 115BAC of the Income Tax Act, 1961?
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax Act, 1961
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