Q.

Children education allowance is ____________

A. Exempt upto lower of the amount actually spent or the prescribed limits.
B. Exempt fully to the extent actually spent or the prescribed limits
C. Exempt to the extent of lower of allowance received or the lump sum amount prescribed, irrespective of actual expenditure.
D. Fully taxable
Answer» C. Exempt to the extent of lower of allowance received or the lump sum amount prescribed, irrespective of actual expenditure.
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