Mr. X received ₹ 50,000 from his friends as gift on his clearing CS professional examinations. The amount shall be ;
A. Taxable as business income
B. Taxable as income from other sources
C. 50% is allowed as deduction
D. Exempt
Answer:D
Mr. X received ₹ 50,000 from his friends as gift on his clearing CS professional examinations. The amount shall be ;
A. Taxable as business income B. Taxable as income from other sources C. 50% is allowed as deduction D. Exempt