‘Which one of the following is the allowable deduction as per the Income Tax Act, 1961 in respect of entertainment allowance paid to a government employee?
1
Lower of one-fourth of basic salary or Rs. 5000 or entertainment allowance received.
2
Lower of one-fifth of basic salary or Rs. 5000 or entertainment allowance received
3
Lower of one-fifth of salary or Rs. 5000 or entertainment allowance received.
4
Lower of one-fourth of salary or Rs. 5000 or entertainment allowance received.