Question :
Any amount received as per the will of a deceased person specifying its use is a:
Option 1:
Capital receipt
Option 2:
Revenue receipt
Option 3: Both 1 and 2
Option 4: None of these
Answer (1)
22nd Jan, 2024
Correct Answer:
Capital receipt
Solution : An amount received as per the WILL of a deceased person specifying its use is a capital receipt which is capital in nature. Hence, the correct option is 1.
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