Shubhra received academic and re-search allowance of ₹ 60,000 from her employer during the P.Y 2020-21. On 15.11.2020 she spent on research ₹ 42,000 and on 23.3.2021 she again spent ₹ 12,000. Another ₹ 8,000 were spent by her on 4.04.2021. The amount of exemption u/s 10(14) will be restricted to:
A. ₹ 60,000
B. ₹ 42,000
C. ₹ 54,000
D. ₹ 62,000
Answer:A
Shubhra received academic and re-search allowance of ₹ 60,000 from her employer during the P.Y 2020-21. On 15.11.2020 she spent on research ₹ 42,000 and on 23.3.2021 she again spent ₹ 12,000. Another ₹ 8,000 were spent by her on 4.04.2021. The amount of exemption u/s 10(14) will be restricted to:
A. ₹ 60,000 B. ₹ 42,000 C. ₹ 54,000 D. ₹ 62,000