Answered: Which of the following income is…

Which of the following income is completely exempt from income tax? Interest received from ISA (Individual Saving Account) Rental income Commission received Employment Income

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 1MCQ: The definition of gross income in the tax law is: All items specifically listed as income in the tax...

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Question

Which of the following income is completely exempt from income tax?

Interest received from ISA (Individual Saving Account)
Rental income
Commission received
Employment Income

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