Consolidated Relief Allowance (CRA) under PITA is:
AThe higher of ₦200,000 or 1% of gross income, plus 20% of gross incomeCORRECT
B10% of gross income
CFixed ₦100,000
DPension contribution only
CITNPersonal Taxation
AI
Toaster Teacher
Why the answer is A, and why the others tempt you.
CRA = (the higher of ₦200,000 or 1% of gross income) + 20% of gross income — granted before graduated rates apply.
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