Start learning →

A horse race under section 58(4) must be one on which?

ABetting is prohibited
BOnly club members may bet
CPrizes exceed Rs 10 lakh
DWagering may be lawfully made
Answer & Solution
Correct answer: D. Wagering may be lawfully made
The Explanation defines a horse race as one upon which wagering or betting may be lawfully made.
Practise this question with Quill — CA Inter →

Keep practising Income from Other Sources

Browse all Income from Other Sources questions for CA Inter, or explore more Taxation topics.

Start a Income from Other Sources lesson →
Related questions