Rao, carrying a business, contributed ₹40,000 in the National Pension Trust account. He also made a tax saving deposit of ₹1,20,000 in his PPF account and ₹40,000 in LIC Premium. The total amount eligible for deduction u

CS Executive · Tax Laws and Practice · PYQS · June 2019
Rao, carrying a business, contributed ₹40,000 in the National Pension Trust account. He also made a tax saving deposit of ₹1,20,000 in his PPF account and ₹40,000 in LIC Premium. The total amount eligible for deduction under various sections enumerated in Chapter VI-A shall be :
(A) ₹1,90,000
(B) ₹1,50,000
(C) ₹1,20,000
(D) ₹2,00,000

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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