ABC Pvt. Ltd. has a business loss of ₹ 10 lakh. There is unexplained share application money to the tune of ₹ 25 lakh. The total income of the company will be:

CS Executive · Tax Laws and Practice · PYQS · June 2018
ABC Pvt. Ltd. has a business loss of ₹ 10 lakh. There is unexplained share application money to the tune of ₹ 25 lakh. The total income of the company will be:
(A) 15 lakh
(B) 35 lakh
(C) 25 lakh
(D) None of the above

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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