alleryStart learning →A gift received from a university covered by section 10(23C) is?
AOutside section 56(2)(x)
BTaxable at half value
CTaxable in full value
DTaxable above Rs 1 lakh
Answer & Solution
Correct answer: A. Outside section 56(2)(x)
Funds, universities, hospitals and institutions referred to in section 10(23C) are among the exempt payers in the proviso.
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