In a contest, Amit wins ₹50,000 cash and a motor-cycle worth ₹50,000. The amount of tax deducted at source will be —

CS Executive · Tax Laws and Practice · PYQS · December 2014
In a contest, Amit wins ₹50,000 cash and a motor-cycle worth ₹50,000. The amount of tax deducted at source will be —
(A) ₹30,000
(B) ₹15,000
(C) ₹27,000
(D) ₹27,810.

Answer & Explanation:

Correct Answer: Option (A)

Correct answer: (A) ₹30,000. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.

Topics: Income Tax Act, 1961

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