A registered trade union earned income by way of interest on fixed deposit held with State Bank of India of ₹ 5,60,000. The interest income chargeable to tax in the hands of trade union would be:
A. ₹ 5,60,000
B. Nil
C. ₹ 2,60,000
D. ₹ 3,10,000
Answer:B
A registered trade union earned income by way of interest on fixed deposit held with State Bank of India of ₹ 5,60,000. The interest income chargeable to tax in the hands of trade union would be:
A. ₹ 5,60,000 B. Nil C. ₹ 2,60,000 D. ₹ 3,10,000