Match the following terms used in the Income Tax Act 1961 with their respective definitions:
|
List I (Terms) |
List II (Definitions) |
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| (A) | Assessment year | (I) | Any benefit or amenity granted to an employee by their employer, which is chargeable to tax |
| (B) | Capital asset | (II) | The year following the financial year in which the income is earned and assessed for taxation purposes |
| (C) | Gross total income | (III) | Total income before deductions under Chapter VI-A of the Income Tax Act |
| (D) | Perquisite | (IV) | Any property held by a taxpayer, whether or not connected with their business or profession |
1
A-II, B-IV, C-III, D-I
2
A-I, B-IV, C-II, D-III
3
A-I, B-II, C-III, D-IV
4
A-III, B-IV, C-I, D-II