Mr. Anand engaged in business wants to deposit in pension fund of Life Insurance Corporation of India. The maximum amount of contribution eligible for deduction from total income is:

CS Executive · Tax Laws and Practice · PYQS · December 2017
Mr. Anand engaged in business wants to deposit in pension fund of Life Insurance Corporation of India. The maximum amount of contribution eligible for deduction from total income is:
(A) ₹ 10,000
(B) ₹ 50,000
(C) ₹ 1,00,000
(D) ₹ 1,50,000

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax

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