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Q. |
Caution money forfeited by the assessee is: |
A. | Taxable in the year of forfeiture under the head “Income from Other Sources” |
B. | Exempt fully |
C. | Taxable in the year of forfeiture under the head “Capital Gain” |
D. | Considered as casual income and liable to tax @ 30%. |
Answer» A. Taxable in the year of forfeiture under the head “Income from Other Sources” |
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