Find out from the following income derived from house property which is being exempt from Income Tax :

CS Executive · Tax Laws and Practice · PYQS · June 2019
Find out from the following income derived from house property which is being exempt from Income Tax :
(A) Income from property of a trust for charitable or religious purposes
(B) Income from property of a housing society
(C) Income from property of a trade association
(D) Income from property of a sports association

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A), (C). Official source note: Both options A and C are correct.

Topics: Income Tax Act, 1961

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