Q.
With reference to the Income Tax Act 1967 (as amended),
(a) State any FIVE (5) classes of income that are exempted from Income Tax. (10 marks)
(b) With examples, explain what are the deductible expenses from rental income of a property. (15 marks)
(25 marks, 2016 Q5)
A.
a)
5 classes of income exempted from Income Tax
Similar question was asked in
b)
Refer to link below for complete answer.
Deductible expenses for rental income 1
Ref:
Earlier post.