A lady received gifts worth ₹ 1,00,000 from her relatives as defined under the Income-tax Act, 1961, and ₹ 60,000 from her office colleagues on her marriage anniversary. The taxable amount of gifts would be

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Question:A lady received gifts worth ₹ 1,00,000 from her relatives as defined under the Income-tax Act, 1961, and ₹ 60,000 from her office colleagues on her marriage anniversary. The taxable amount of gifts would be

1. ₹ 1,60,000

2.₹ 60,000

3.₹ 10,000

4. ₹ 1,10,000

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  1. A lady received gifts worth ₹ 1,00,000 from her relatives as defined under the Income-tax Act, 1961, and ₹ 60,000 from her office colleagues on her marriage anniversary. The taxable amount of gifts would be
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