All India Bar Examination (AIBE) 19-XIX Previous Year Question Papers with Answers

Practice Mode:
87.

Read the given statements and choose the correct option :


Statement 1: Agricultural income is exempt from tax under Section 10(1) of Income Tax Act, 1961.

Statement 2: Tax on Non-Agricultural in case of Non-Agricultural Income exceeds Basic Exemption limit and Agricultural Income exceeds ₹ 5000/- is determined by Scheme of Partial Integration of Non-Agricultural Income with Agricultural Income.
A: Both the Statements are incorrect.
B: Only Statement 1 is true.
C: Only Statement 2 is true.
D: Both the Statements are correct.

The answer is: D