Rishabh received the following gifts during the previous year: (i) ₹50,000 from his employer (ii) ₹1,00,000 from mother's sister (iii) ₹10,000 from his friend on the occasion of his marriage (iv) ₹60,000 in the form of s
CS Executive · Tax Laws and Practice · PYQS · June 2016
Rishabh received the following gifts during the previous year: (i) ₹50,000 from his employer (ii) ₹1,00,000 from mother's sister (iii) ₹10,000 from his friend on the occasion of his marriage (iv) ₹60,000 in the form of scholarship from a registered charitable trust. The amount of taxable gift under the head 'income from other sources' is —
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
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