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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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