n NISM Certifications
XVII NISM Series XVII
Medium

Which statement is TRUE regarding income tax in retirement?

Practice question from NISM Series XVII- Retirement Adviser Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Taxed at a special rate

  2. B

    No income tax for retirees

  3. Income is subject to income tax

    Correct answer

  4. D

    Taxed at previous income slab

Why this is the answer

Retirees’ income, unless specifically exempted, remains taxable under prevailing laws.

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