Suresh received a gift of ₹75,000 from a cousin of her mother on 31st December, 2020. How much amount is taxable as income from other sources for the assessment year 2021-22?

CS Executive · Tax Laws and Practice · PYQS · December 2021
Suresh received a gift of ₹75,000 from a cousin of her mother on 31st December, 2020. How much amount is taxable as income from other sources for the assessment year 2021-22?
(A) ₹25,000
(B) ₹50,000
(C) ₹75,000
(D) Nil

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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