Saksham received educational scholarship from his employer, of ₹ 14,000. Saksh-am spend only ₹ 9,000 for cost of education and saved ₹ 5,000. The amount exempt u/s 10( 16) of the Income-tax Act, 1961 will be:
A. ₹ 9,000
B. ₹ 14,000
C. ₹ 5,000
D. Fully-taxable
Answer:B
Saksham received educational scholarship from his employer, of ₹ 14,000. Saksh-am spend only ₹ 9,000 for cost of education and saved ₹ 5,000. The amount exempt u/s 10( 16) of the Income-tax Act, 1961 will be:
A. ₹ 9,000 B. ₹ 14,000 C. ₹ 5,000 D. Fully-taxable