Which of the following is NOT included in salary under section 16 of the Income-tax Act, 2025?
Section 16 includes "wages", pension and gratuity within salary, subject to applicable exemption provisions. Personal savings-account interest does not arise from employment…
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Which of the following is NOT included in salary under section 16 of the Income-tax Act, 2025?
Answer and explanation
Correct answer B
Section 16 includes "wages", pension and gratuity within salary, subject to applicable exemption provisions. Personal savings-account interest does not arise from employment and ordinarily falls under income from other sources.
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