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M.Who was carrying on agency business, received a sum of Rs.5,00,000 from his principal for termination of agency. Compensation so received shall be _________-

Correct Answer: Fully taxable as business income

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Direct Tax MCQ: M.Who was carrying on agency business, received a sum of Rs.5,00,000 from his principal for termination of agency. Compensation so received shall be _________- | Extra Education