Match LIST-I with LIST-II under Chapter VIII of the Income-tax Act, 2025. LIST-I (Item)LIST-II…
Under Chapter VIII of the Income-tax Act, 2025: deduction for health insurance premia is allowed under section 126 (A-II); deduction for a resident individual certified as a…
Choose your answer
Match LIST-I with LIST-II under Chapter VIII of the Income-tax Act, 2025.
| LIST-I (Item) | LIST-II (Section) |
|---|---|
| A. Deduction in respect of health insurance premium | I. Section 125 |
| B. Deduction in case of a person with disability | II. Section 126 |
| C. Deduction in respect of interest on loan taken for higher education | III. Section 154 |
| D. Deduction in respect of contribution to Agnipath Scheme | IV. Section 129 |
Answer and explanation
Correct answer C
Under Chapter VIII of the Income-tax Act, 2025: deduction for health insurance premia is allowed under section 126 (A-II); deduction for a resident individual certified as a person with disability (Rs. 75,000, or Rs. 1,25,000 for severe disability) under section 154 (B-III); deduction for interest on a loan taken for higher education under section 129 (C-IV); and deduction for contribution to the Agniveer Corpus Fund under the Agnipath Scheme under section 125 (D-I) (formerly ss.80D, 80U, 80E and 80CCH of the 1961 Act). Hence A-II, B-III, C-IV, D-I; each of the other options mismatches every pair.
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UGC NET Commerce