Q.
1
Statement (I): Gratuity received by Government employee is exempted from tax under Section
10(10)(i) of the Indian Income Tax Act, 1961
Statement (II): Gratuity received by local authority employee is exempted from tax
In the light of the above statements, choose the correct answer from the options given below:
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A
Both Statement (I) and Statement (II) are true.
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B
Both Statement (I) and Statement (II) are false.
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C
Statement (I) is correct but Statement (II) is false.
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D
Statement (I) is incorrect but Statement (II) is true.