Sarath has received a sum of ₹ 3,40,000 as interest on enhanced compensation for compulsory acquisition of land by State Government in May, 2018. Of this, only ₹ 12,000 pertains to the current year and the rest pertains to earlier years. The amount chargeable to tax for the AY 2019- 20 would be-
A. ₹ 12,000
B. ₹ 6,000
C. ₹ 3,40,000
D. ₹ 1,70,000
Answer:D
Sarath has received a sum of ₹ 3,40,000 as interest on enhanced compensation for compulsory acquisition of land by State Government in May, 2018. Of this, only ₹ 12,000 pertains to the current year and the rest pertains to earlier years. The amount chargeable to tax for the AY 2019- 20 would be-
A. ₹ 12,000 B. ₹ 6,000 C. ₹ 3,40,000 D. ₹ 1,70,000