πŸ“Š Direct Tax
Q. M.Who was carrying on agency business, received a sum of Rs.5,00,000 from his principal for termination of agency. Compensation so received shall be _________-
  • (A) Exempt as it is capital receipt
  • (B) Fully taxable as business income
  • (C) Taxable as income from other sources
  • (D) Intangible asset
πŸ’¬ Discuss
βœ… Correct Answer: (B) Fully taxable as business income

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