Mr. Z received compensation of ₹ 3,60,000 from the Central Government on account of disaster. He claimed ₹ 1,20,000 as a deduction on account of loss or damage caused by such disaster under this Act. What amount of compensation received shall be exempt?
A. ₹ 3,60,000
B. ₹ 2,40,000
C. ₹ 1,20,000
D. Nil
Answer:B
Mr. Z received compensation of ₹ 3,60,000 from the Central Government on account of disaster. He claimed ₹ 1,20,000 as a deduction on account of loss or damage caused by such disaster under this Act. What amount of compensation received shall be exempt?
A. ₹ 3,60,000 B. ₹ 2,40,000 C. ₹ 1,20,000 D. Nil