Ms. Pinky (age 61) pledged her residential building with the State Bank of India and received ₹ 10,000 every month under the reverse mortgage scheme during the financial year 2020-21. The amount liable to income-tax in respect of such receipt would be:
1.₹ 1, 20,000 (fully taxable)
2.₹ 84,000 (after deducting 30%)
3.₹ 60,000 (after deducting 50%)
4. Nil (as it is exempted from tax)
Posted Date:-2022-08-28 04:20:24