Mrs. Meena retired from service with Sky Ltd. on 31 st January, 2016. She received the following amounts from unrecognised provident fund: (i) Own contribution ₹1,50,000; (ii) Interest on own contribution ₹21,000; (iii)
CS Executive · Tax Laws and Practice · PYQS · June 2016
Mrs. Meena retired from service with Sky Ltd. on 31 st January, 2016. She received the following amounts from unrecognised provident fund: (i) Own contribution ₹1,50,000; (ii) Interest on own contribution ₹21,000; (iii) Employer's contribution ₹1,10,000; and (iv) interest on employer's contribution ₹15,000. How much of the receipt is chargeable to tax as income from salary— (A) ₹21,000 (B) ₹15,000 (C) ₹1,25,000 (D) ₹1,71,000
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax
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