alleryStart learning →Agreement-date value needs consideration paid how?
AAny mode after the agreement
BCash before the registration
CBanking mode by agreement date
DCash on the agreement date
Answer & Solution
Correct answer: C. Banking mode by agreement date
The agreement-date value is allowed only if the consideration, or part of it, moved through banking channels on or before the agreement date.
Keep practising Income from Other Sources
Browse all Income from Other Sources questions for CA Inter, or explore more Taxation topics.
Related questions
A non-relative gifts exactly Rs 50,000 in a year. Taxable amount?Meena gets Rs 20,000 from a friend and Rs 28,000 from a colleague in a year. Taxable gift?In one year Rahul gets Rs 30,000 and Rs 25,000 gifts from two friends. Taxable gift?Property received free is taxable only if its stamp duty value exceeds?Which Union List entry lets the Centre tax non-agricultural income?Under which provision is agricultural income exempt from tax?A horse race under section 58(4) must be one on which?The bar on deductions in section 58(4) does not hit?