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Consider the following pairs:
1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)
2. ELSS mutual funds: Have a lock-in period of 5 years
3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions
4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securities
How many pairs given above are correctly matched?
- a)Only one pair
- b)Only two pairs
- c)Only three pairs
- d)All four pairs
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Consider the following pairs:1. Section 80C of the Income Tax Act: Of...
1. Section 80C of the Income Tax Act: Correctly matched. Section 80C permits certain investments and expenses to be tax-exempted, including NSC, ULIP, and PPF.
2. ELSS mutual funds: Incorrectly matched. ELSS mutual funds have a lock-in period of 3 years, not 5 years.
3. New tax regime (2020-21): Incorrectly matched. The new tax regime introduced in 2020-21 does not retain the benefits of all tax exemptions and deductions, making ELSS less attractive to investors.
4. Asset allocation in ELSS: Correctly matched. ELSS mutual funds' asset allocation is mostly (65% of the portfolio) made towards equity and equity-linked securities such as listed shares.
Thus, only pairs 1 and 4 are correctly matched.
Most Upvoted Answer
Consider the following pairs:1. Section 80C of the Income Tax Act: Of...
Explanation:
1. Section 80C of the Income Tax Act:
- Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF).
2. ELSS mutual funds:
- Have a lock-in period of 5 years.
3. New tax regime (2020-21):
- Retains the benefits of all tax exemptions and deductions.
4. Asset allocation in ELSS:
- Mostly made towards equity and equity-linked securities.
Out of the given pairs, only the second pair is correctly matched. ELSS mutual funds indeed have a lock-in period of 5 years. The other pairs are not accurate as per the information provided.
1. Section 80C of the Income Tax Act:
- Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF).
2. ELSS mutual funds:
- Have a lock-in period of 5 years.
3. New tax regime (2020-21):
- Retains the benefits of all tax exemptions and deductions.
4. Asset allocation in ELSS:
- Mostly made towards equity and equity-linked securities.
Out of the given pairs, only the second pair is correctly matched. ELSS mutual funds indeed have a lock-in period of 5 years. The other pairs are not accurate as per the information provided.
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Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer?
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Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer?.
Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Consider the following pairs:1. Section 80C of the Income Tax Act: Offers tax deductions for investments in National Savings Certificate (NSC), Unit Linked Insurance Plan (ULIP), and Public Provident Fund (PPF)2. ELSS mutual funds: Have a lock-in period of 5 years3. New tax regime (2020-21): Retains the benefits of all tax exemptions and deductions4. Asset allocation in ELSS: Mostly made towards equity and equity-linked securitiesHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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