A. rs. 5,00,000.
B. rs. 8,00,000.
C. rs. 10,00,000.
D. rs. 15,00,000.
✅ The correct answer is option A.
Deduction from gross Total income is allowed under Sec. 80C up to lower of the Qualifying amount or a maximum of.
A. rs. 50,000.
B. rs. 80,000.
C. rs. 1,00,000.
D. rs. 2,00,000.
✅ The correct answer is option C.
Profits earned from an illegal business are……………………..
A. taxable.
B. tax free.
C. ignored by tax authorities.
D. treated as other income.
✅ The correct answer is option A.
Contribution made to an approved research association is eligible for deduction up to……………..
A. 50%.
B. 80%.
C. 100%.
D. 125%.
✅ The correct answer is option D.
Unabsorbed capital expenditure on scientific research can be carried forward for……………
A. 15 years.
B. 14 years.
C. 8 years.
D. 10
✅ The correct answer is option C.
Medical reimbursement is exempt up to ……………… if treatment is done in a private hospital.
A. rs: 5,000
B. rs: 10,000
C. rs: 15,000
D. rs: 50,000
✅ The correct answer is option C.
Excise duty and sales tax are allowed as deduction if paid before………………….
A. late date of filing of return.
B. previous year end.
C. before 31 st december of the previous year.
D. after 31 st december of previous year.
✅ The correct answer is option A.
Technical know-how acquired after 1.4.98 is eligible for depreciation at……………
A. 10% p.a.
B. 20% p.a.
C. 25% p.a.
D. 40% p.a.
✅ The correct answer is option C.
Which of the following is exempted.
A. c.c.a
B. d.a
C. foreign allowance
D. medical allowance
✅ The correct answer is option C.
Free food provided to employees is exempted upto …………………. per meal.
A. rs: 40
B. rs: 50
C. rs: 60
D. rs: 15
✅ The correct answer is option B.