During the previous year 2014-15, Barun received a watch worth ₹20,000 from his employer. The taxable value of the watch will be

CS Executive · Tax Laws and Practice · PYQS · June 2015
During the previous year 2014-15, Barun received a watch worth ₹20,000 from his employer. The taxable value of the watch will be
(A) ₹15,000
(B) ₹20,000
(C) Nil
(D) None of the above.

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax

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