Mr. Sankar received ₹ 50,000 as educational scholarship from Nehru memorial Trust (a charitable trust). The scholarship is to assist Mr. Sankar for pursuing M.A. (History) at Jawaharlal Nehru University, New Delhi. The amount of scholarship liable to tax is:
A. ₹ 50,000
B. ₹ 10,000
C. ₹ 25,000
D. Nil
Answer:D
Mr. Sankar received ₹ 50,000 as educational scholarship from Nehru memorial Trust (a charitable trust). The scholarship is to assist Mr. Sankar for pursuing M.A. (History) at Jawaharlal Nehru University, New Delhi. The amount of scholarship liable to tax is:
A. ₹ 50,000 B. ₹ 10,000 C. ₹ 25,000 D. Nil