The Income Tax department has decided to block uline{1cm} get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.

2016

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Income Tax department has decided to "block" _________ get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.

A	PAN
B	License
C	Aadhaar
D	Voter Id

Explanation:

Detailed explanation-1: -New Delhi: In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to “block” Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and.

Detailed explanation-2: -LPG Subsidy is not Capital receipt. Subsidy is included in definition of Income u/s 2(28) of Income tax Act. ( Finance Act 2015). However, LPG subsidy is specifically excluded from definition of subsidy, hence not taxable.

There is 1 question to complete.