n NISM Certifications
XVII NISM Series XVII
Medium

Income received under the Reverse Mortgage Scheme is considered tax-free, as per the current tax regulations.

Practice question from NISM Series XVII- Retirement Adviser Mock Test 1 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Income received under the Reverse Mortgage Scheme is exempt to the extent of interest paid on outstanding mortgages

  2. B

    Income received under the Reverse Mortgage Scheme is exempt to the extent of Rs 25000 per month

  3. C

    Income received under the Reverse Mortgage Scheme is fully taxable

  4. Income received under the Reverse Mortgage Scheme is tax free

    Correct answer

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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NISM Series XVII- Retirement Adviser Moc…