Select the correct option to test your answer:
Commerce
Income Tax And Corporate Tax
Difficulty: Medium
Which one of the following incomes is/are taxable? 1. A local authority has earned income from the supply of water or electricity outside its own jurisdictional area. 2. An income under the head capital gain to a local authority. 3. A daily allowance received by a Member of Parliament. 4. Income arising from the transfer of units of the Unit Trust of India or of mutual fund covered under Section 10(23D). Select the correct answer using the options given below
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