The Income Computation and Disclosure Standards (ICDS) applicable from Asst. Year 2017-18 for the purpose of computation of Income under the head "Profits and gains of business or Profession" and "Income from other Sourc
CS Executive · Tax Laws · PYQS · December 2020
The Income Computation and Disclosure Standards (ICDS) applicable from Asst. Year 2017-18 for the purpose of computation of Income under the head "Profits and gains of business or Profession" and "Income from other Sources" shall not apply for computation of but shall apply for computation of
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income from Business or Profession
Related Questions in this Topic
- Ram & Company constituted by 2 partners sharing profits & loss equally declared net loss of ₹20,000 after charge...
- Karnataka High Court in case of CIT vs. ITC Hotels Ltd. (2011) 334 ITR 109 has held that the expenditure incurred on the...
- Ram, engaged in the business of plying, hiring or leasing of goods carriages as on 1st April, 2019 was having 5 trucks o...
- Pink & Pink is a Proprietorship firm of Pingajee, resident in India having turnover from manufacturing and sale of T...
- Amitav had made payment of (i) ₹60,000 to IIT, Kanpur for an approved scientific research programme; (ii) ₹90,000 revenu...