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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

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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

(b)

Increase in the exemption limit of personal income to Rs 1.20 lakh for widows

(c)

Elimination of standard deduction

(d)

Exemption from tax on dividends and capital gains from the listed equity

Answer:

(b)

Moderate

Explanation

The recommendation to increase the exemption limit of personal income for widows was not part of Dr. Vijay L. Kelkar’s 2002 task force, making (b) correct.