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Question 4: What tax relief is available to an employee in respect of dividend, interest on units of UTI or mutual funds and interest earned

Question 4:

What tax relief is available to an employee in respect of dividend, interest on units of UTI or mutual funds and interest earned from bank?

Discuss briefly the provisions of the income tax act regarding deductions to be made in computing the total income of an assessee in respect of certain payments.

(5+5 = 10 marks)

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