Which of the following is correct about deduction available in respect of contribution to various provident funds in case of salaried employees?

(A) Employer’s contribution to recognized Provident fund is exempted upto 12% of salary. (B) Employer’s contribution to unrecognized Provident fund is exempted from tax. (C) Employer does not contribute to Public Provident Fund (D) Deduction under section 80 C is available for employer’s contribution in unrecognized provident fund Choose the correct answer from the options […]

Given below are two statements:

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:

Match List I with List II:- IT1

List I List II (A) 80 GG (I) Deduction in respect of contribution given by companies to political parties (B) 80 GGA (II) Deduction in respect of contribution given by any person to political parties (C) 80 GGB (III) Deduction in respect of scientific research (D) 80 GGC (IV) Deduction in respect of rent paid […]