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Question

Income received by an individual as a gift of ₹60,000 from a friend residing in India is:

A Fully taxable under "Income from Other Sources"

B Exempt from tax as it is from a relative

C Exempt up to ₹50,000 under a specific provision

D Taxable only if it exceeds ₹1,00,000 in a year

E Always exempt, regardless of amount

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