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    Question

    Which of the following is not a recommendation of the

    task force on direct taxes under the chairmanship of Dr. Vijay L. Kelkar in the year 2002? 
    A Abolition of Wealth Tax Correct Answer Incorrect Answer
    B Increase in the exemption limit of personal income to Rs. 1.20 lakh for widows Correct Answer Incorrect Answer
    C Elimination of standard deduction Correct Answer Incorrect Answer
    D Exemption from tax on dividends and capital gains from the listed equity Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Increase in exemption limit to Rs 1 lakh to for the general categories of taxpayers. A higher exemption limit of Rs 1.50 lakh for widows and senior citizens was one of the recommendation of the task, force on direct taxes under the chairmanship of Dr. Vijay. Kelkar in the year 2002.

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