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Commerce · Q166

Income Tax and Corporate Tax

Graduate and Post Graduate · Commerce · question 166

Q166

According to Income Tax Act, 1961, Salary is defined to include: 1. Wages, Annuity, Pension, Gratuity 2. Fees, Commission, Perquisites, Profits in lieu of or in addition to Salary or Wages 3. Advance of Salary, Leave Encashment 4. Annual accretion to the balance of Recognized Provident Fund, transferred balance in Recognized Provident Fund 5. Contribution by Central Government or any other employer to Employees Pension Account as referred in Section 80CCD

A.
1, 2 and 5
B.
1, 2, 3 and 4
C.
2, 3 and 5
D.
All of the above
Answer

Answer: Option D

Solution

Answer: Option D
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