Match List-I with List-II under Chapter VIII of the Income-tax Act, 2025. List-I (Deduction)List-II…
Under Chapter VIII of the Income-tax Act, 2025: section 128 allows a deduction for the medical treatment of prescribed diseases or ailments (A-IV); section 129 for interest…
Choose your answer
Match List-I with List-II under Chapter VIII of the Income-tax Act, 2025.
| List-I (Deduction) | List-II (Related) |
|---|---|
| A. Section 128 | I. Deduction in respect of contributions given by companies to political parties |
| B. Section 129 | II. Deduction in respect of rent paid |
| C. Section 134 | III. Deduction for interest paid on loan taken for pursuing higher education |
| D. Section 136 | IV. Deduction in respect of medical treatment |
Answer and explanation
Correct answer C
Under Chapter VIII of the Income-tax Act, 2025: section 128 allows a deduction for the medical treatment of prescribed diseases or ailments (A-IV); section 129 for interest on a loan taken for higher education (B-III); section 134 for rent paid for accommodation occupied for one's own residence (C-II); and section 136 for contributions made by an Indian company, otherwise than in cash, to a political party or an electoral trust (D-I) (formerly ss.80DDB, 80E, 80GG and 80GGB of the 1961 Act). Hence A-IV, B-III, C-II, D-I; each of the other options mismatches at least three of the four pairs.
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UGC NET Commerce