ICANTaxationPersonal Income Tax: Reliefs and Computation2022

Which of the following incomes is exempt from personal income tax?

ARental income from a residential property
BInterest on a savings account with a commercial bank
CIncome of a cooperative society from investments with its membersCORRECT
DDirector's fee received by a non-executive director
AI
Toaster Teacher
Why the answer is C, and why the others tempt you.
Income of a cooperative society arising from investments with its own members is specifically exempt under PITA. Rental income, bank interest and directors' fees are all chargeable.
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