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AAFM Exam GLO_CWM_LVL_1 Topic 1 Question 52 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam
Question #: 52
Topic #: 1
[All GLO_CWM_LVL_1 Questions]

"During the PY 2009-10 a Poonawala Charitable Trust earned an income of Rs. 7 lakh out of which Rs.5 lakh was received during the PY 2009-10 and the balance Rs. 2 lakh was received during the PY 2011-2012.In order to claim full exemption of Rs. 7 lakh in the PY 2009-10:

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Suggested Answer: C

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