Find out from the following incomes which shall not be taken as forming part of the total income of an assessee for the purpose of taxation in any assessment year as per provisions of Income Tax Act, 1961: (i) Pension re

CS Executive · Tax Laws · PYQS · December 2020
Find out from the following incomes which shall not be taken as forming part of the total income of an assessee for the purpose of taxation in any assessment year as per provisions of Income Tax Act, 1961: (i) Pension received by an awardee of Mahavir Chakra (ii) Income of a Notified News Agency (iii) Pension received by widow of a Major who died in Balakot attack (iv) Income received on behalf of any Regimental Fund
(A) (i), (ii), (iii) & (iv)
(B) (i), (iii) & (iv)
(C) (ii) & (iv)
(D) (ii) & (iii)

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Exempt Incomes

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