Deccan Ltd. incurred an amount of ₹16 lakh as preliminary expenses for setting up a project costing ₹100 lakh during financial year 2018-19. The amount of amortization available as deduction during the A.Y. 2019-20 for t

CS Executive · Tax Laws and Practice · PYQS · June 2019
Deccan Ltd. incurred an amount of ₹16 lakh as preliminary expenses for setting up a project costing ₹100 lakh during financial year 2018-19. The amount of amortization available as deduction during the A.Y. 2019-20 for the preliminary expenses would be :
(A) ₹1,60,000
(B) ₹3,20,000
(C) ₹16,00,000
(D) ₹1,00,000

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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