Champa Lal (age 65 years) received interest from M.P. State Government due to late payment of compensation for compulsory acquisition of capital asset amounting to ₹12,00,000 on 17th July, 2021. What amount is taxable un
CS Executive · Tax Laws · PYQS · December 2022
Champa Lal (age 65 years) received interest from M.P. State Government due to late payment of compensation for compulsory acquisition of capital asset amounting to ₹12,00,000 on 17th July, 2021. What amount is taxable under head Other Sources for assessment year 2022-23?
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax Act, 1961
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