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Options
- A
No tax benefit at contribution or income earned; withdrawals are exempt
- B
Tax benefits on contributions; income earned and withdrawals are taxable
-
Contributions, interest, and withdrawals are exempt up to a limit
Correct answer
- D
Contributions are taxed; income and withdrawals are exempt
Why this is the answer
Contributions to VPF, along with interest earned and withdrawals, are exempt from tax within specified limits; excess interest may be taxable.
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