Chetan Co. (P) Ltd. commenced a new unit for manufacture of its products. The amount of preliminary expenses eligible for deduction was computed @ ₹7 lakh. In how many instalments the eligible preliminary expenditure wou
CS Executive · Tax Laws · PYQS · June 2023
Chetan Co. (P) Ltd. commenced a new unit for manufacture of its products. The amount of preliminary expenses eligible for deduction was computed @ ₹7 lakh. In how many instalments the eligible preliminary expenditure would be amortized?
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax Act, 1961
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