Mr. A an individual, aged 52, deposited in PPF ₹1,70,000. He paid medical insurance premium for wife and dependent son of ₹31,000 and he earns an interest on savings bank account of ₹12,000 during the financial year 2020

CS Executive · Tax Laws and Practice · PYQS · December 2021
Mr. A an individual, aged 52, deposited in PPF ₹1,70,000. He paid medical insurance premium for wife and dependent son of ₹31,000 and he earns an interest on savings bank account of ₹12,000 during the financial year 2020-21. Calculate the amount he is eligible for deduction under chapter VI-A in the Assessment Year 2021-22.
(A) ₹1,85,000
(B) ₹2,13,000
(C) ₹1,90,000
(D) ₹1,87,000

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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