Ramesh received ₹7 lakh by way of enhanced compensation in March, 2015. A further sum of ₹2 lakh decreed by the court is due but not received till 31st March, 2015. The amount of income chargeable to tax for the assessme

CS Executive · Tax Laws and Practice · PYQS · December 2015
Ramesh received ₹7 lakh by way of enhanced compensation in March, 2015. A further sum of ₹2 lakh decreed by the court is due but not received till 31st March, 2015. The amount of income chargeable to tax for the assessment year 2015-16 would be
(A) ₹3,50,000
(B) ₹7,00,000
(C) ₹9,00,000
(D) ₹4,50,000.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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