Match the items of the List – I with those of the List – II under the Income-tax Act, 2025 and indicate…
Under the Income-tax Act, 2025: (a) The residential status of an individual is determined under section 6 (formerly s.6 of the 1961 Act) (iii). (b) Agricultural income is…
Choose your answer
Match the items of the List – I with those of the List – II under the Income-tax Act, 2025 and indicate the correct code :
List – I
a. Residential status of an individual
b. Agricultural income not included in total income
c. House rent allowance not included in total income
d. Deduction for gratuity received by an employee
List – II
i. Schedule III (Table: Sl. No. 11)
ii. Section 19
iii. Section 6
iv. Schedule II (Table: Sl. No. 1)
Answer and explanation
Correct answer B
Under the Income-tax Act, 2025:
(a) The residential status of an individual is determined under section 6 (formerly s.6 of the 1961 Act) (iii).
(b) Agricultural income is excluded from total income under section 11, read with Schedule II (Table: Sl. No. 1) (formerly s.10(1)) (iv).
(c) House rent allowance is excluded under section 11, read with Schedule III (Table: Sl. No. 11) (formerly s.10(13A)) (i).
(d) Gratuity is allowed as a deduction in computing income under the head 'Salaries' under section 19 (Table: Sl. Nos. 3 to 6) (formerly s.10(10)) (ii).
The correct code is therefore (a)-iii, (b)-iv, (c)-i, (d)-ii.
Practice for these exams
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UGC NET Commerce