The voluntary contributions received by an electoral trust during the year is not included in its income

CS Executive · Tax Laws and Practice · PYQS · December 2015
The voluntary contributions received by an electoral trust during the year is not included in its income
(A) When 95% of contribution is distributed in the year
(B) When 85% of contribution is distributed in the year
(C) To the extent of ₹10 lakh
(D) To the extent of 50% of contribution or ₹100 lakh whichever is less.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic