AIBE XIX 2024 Set A Question 86

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Question 86 of 100 AIBE XIX 2024 Set A

Mr. X deposits ₹ 65,000 in the term deposit of 5 years with the Post Office to avail tax deduction under section 80 C. Assuming Mr. X does not opt for concessional tax regime u/s 115 BAC of the Income Tax Act, 1961. On the basis of the above problem, select the correct option.

A Mr. X is guilty of tax evasion/tax avoidance.
B Mr. X is not guilty of either tax evasion/tax avoidance. Official answer
C No tax deduction can be availed under Section 80 C.
D It is an unlawful act to treat a personal expenditure.