Match the LIST-I with LIST-II
LIST-I
ItemLIST-II
SectionA. Deduction in respect of medical insurance premium I. Section 80CCH B. Deduction in case of a person with disability II. Section 80D C. Deduction in respect of interest on loan taken for higher education III. Section 80U D. Deduction in respect of contribution to Agnipath Scheme IV. Section 80E
Choose the correct answer from the options given below:
Understanding Income Tax Deductions: Matching LIST-I and LIST-II
This section provides a detailed explanation for matching the items listed in LIST-I with their corresponding sections in LIST-II, based on the provided correct answer.
LIST-I Items and LIST-II Sections
The question requires matching specific types of deductions (LIST-I) with their relevant Income Tax Act sections (LIST-II). Let's break down the provided correct matching:
- A. Deduction in respect of medical insurance premium is matched with Section II.
- B. Deduction in case of a person with disability is matched with Section III.
- C. Deduction in respect of interest on loan taken for higher education is matched with Section IV.
- D. Deduction in respect of contribution to Agnipath Scheme is matched with Section I.
| LIST-I Item | Description | LIST-II Section | Corresponding Section Name |
|---|---|---|---|
| A | Deduction in respect of medical insurance premium | II | Section 80C |
| B | Deduction in case of a person with disability | III | Section 80U |
| C | Deduction in respect of interest on loan taken for higher education | IV | Section 80E |
| D | Deduction in respect of contribution to Agnipath Scheme | I | Section 80CC |
Explanation of Matches
Medical Insurance Premium Deduction (A) - Section 80C (II)
As per the provided answer key, the deduction for medical insurance premium (Item A) is linked to Section II, identified as Section 80C. This section covers various common deductions.
Person with Disability Deduction (B) - Section 80U (III)
The deduction available for an individual who is a person with disability (Item B) is correctly matched with Section III, which represents Section 80U. This section specifically addresses deductions for individuals suffering from specified disabilities.
Higher Education Loan Interest Deduction (C) - Section 80E (IV)
Item C, concerning the deduction for interest on a loan taken for higher education, is matched with Section IV, corresponding to Section 80E. This section allows taxpayers to claim deductions on the interest paid on loans obtained for pursuing higher education.
Agnipath Scheme Contribution Deduction (D) - Section 80CC (I)
Finally, the deduction related to the contribution to the Agnipath Scheme (Item D) is matched with Section I, identified as Section 80CC, according to the provided correct answer.
Identifying the Correct Option
The correct option must accurately reflect the mapping: A-II, B-III, C-IV, and D-I. By comparing the different choices provided in the question with this required mapping, the correct answer can be identified.
Important Questions from Deduction and Collection of tax at source
Income received and accrued or arisen outside India from a business controlled in or a profession set up in India, is taxed in the hands of which of the following?
a. Every citizen of India
b. Domicile of India
c. Ordinary Resident
d. Non-Ordinarily Resident
e. Non-Resident
Choose the correct answer from the options given below:
Match List I with List II:
List I List II (A) Section 80 EE (I) Deduction in respect of rent paid (B) Section 80 GG (II) Deduction in respect of certain donations for scientific researches (C) Section 80 GGA (III) Deduction in respect of interest on loan taken for residential house (D) Section 80 E (IV) Deduction in respect of payment of Interest on loan taken for Higher Education. Choose the correct answer from the options given below:
Which of the followings is correct about deduction available in respect of contribution to various provident funds in case of salaried employees?
(A) Employer's contribution to recognised provident fund is exempted upto 12% of salary.
(B) Employer's contribution to unrecognised 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:
Match List I with List II
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.
Choose the correct answer from the options given below:
Mr. X is entitled to transport allowance of Rs. 1,800 p.m. for commuting from his residence to office and back and he spends Rs. 1,400 p.m. The exemption shall be allowed of
