Bansal employed in a private company as general manager with salary income (computed) ₹18,60,000. He paid ₹1,00,000 to Universal College for doing research in social science which is approved by the prescribed authority
CS Executive · Tax Laws · PYQS · June 2023
Bansal employed in a private company as general manager with salary income (computed) ₹18,60,000. He paid ₹1,00,000 to Universal College for doing research in social science which is approved by the prescribed authority for the purpose of section 35(1)(iii) of the Income Tax Act, 1961. His son was admitted in the same college for pursuing a degree course. How much of the donation given by Bansal is eligible for deduction while computing his total income for the assessment year 2023-24?
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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