Question

Write the correct alternative answer for each of the following quesitons.

(i) For different types of investments what is the maximum permissible amount under section 80C of income tax ?

(A) 1,50,000 rupees (B) 2,50,000 rupees (C) 1,00,000 rupees (D) 2,00,000rupees

(ii) A person has earned his income during the financial year 2017-18. Then his assessment year is ....

(A) 2016-17 (B) 2018-19 (C) 2017-18 (D) 2015-16

Answer 1

(i) Under section 80 C of income tax, the maximum permissible amount is Rs 1,50,000.
Hence, the correct answer is option A.

(ii) The assessment year for the person who earned his income during 2017-18 will be 2018-19.
Hence, the correct answer is option B.