86.
Mr. X deposits ₹ 65,000 in the term deposit of 5 years with the Post Office to avail tax deduction under section 80 C . Assuming Mr. X does not opt for concessional tax regime u/s 115 BAC of the Income Tax Act, 1961.
On the basis of the above problem, select the correct option.
A:
Mr. X is guilty of tax evasion/tax avoidance.
B:
Mr. X is not guilty of either taxevasion/tax avoidance.
C:
No tax deduction can be availed under Section 80 C
D:
It is an unlawful act to treat a personal expenditure.
The answer is:
B
