Which of the following income is/are exempted under Section 10 of Indian Income Tax Act, 1961 for a…
For a resident individual, Indian agricultural income is exempt u/s 10(1), share of profit from a separately assessed partnership firm is exempt u/s 10(2A), and sums…
Choose your answer
Which of the following income is/are exempted under Section 10 of Indian Income Tax Act, 1961 for a resident individual ?
Answer and explanation
Correct answer D
For a resident individual, Indian agricultural income is exempt u/s 10(1), share of profit from a separately assessed partnership firm is exempt u/s 10(2A), and sums received as a member out of HUF income are exempt u/s 10(2).
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Rajasthan SET (RSET)