Mr. Murthy is employed in ABC Management Institute, Pune. He is eligible for ₹ 24,000 as allowance for the year towards academic and research work. The amount of academic and research allowance chargeable to tax, if he did not spend any money for the purpose, is:
A. ₹ 10,000
B. ₹ 24,000
C. ₹ Nil
D. ₹ 9,000
Answer:B
Mr. Murthy is employed in ABC Management Institute, Pune. He is eligible for ₹ 24,000 as allowance for the year towards academic and research work. The amount of academic and research allowance chargeable to tax, if he did not spend any money for the purpose, is:
A. ₹ 10,000 B. ₹ 24,000 C. ₹ Nil D. ₹ 9,000