During the year 2014-15, Basu won ₹4,00,000 from a motor car rally out of which he deposited ₹1,50,000 in his PPF account. He does not have any other income. Net tax payable by Basu for assessment year 2015-16 will be
CS Executive · Tax Laws and Practice · PYQS · June 2015
During the year 2014-15, Basu won ₹4,00,000 from a motor car rally out of which he deposited ₹1,50,000 in his PPF account. He does not have any other income. Net tax payable by Basu for assessment year 2015-16 will be
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax
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