Chola Ltd., engaged in manufacture, acquired machineries for ₹30 crore in July, 2014 and for ₹27 crore in April, 2015. All the machines were used within 45 days of acquisition. The deduction under section 32AC for the as
CS Executive · Tax Laws and Practice · PYQS · June 2016
Chola Ltd., engaged in manufacture, acquired machineries for ₹30 crore in July, 2014 and for ₹27 crore in April, 2015. All the machines were used within 45 days of acquisition. The deduction under section 32AC for the assessment year 2016-17 will be —
Answer & Explanation:
The official key records '*'. This question is excluded from automatic grading because the source does not supply an unambiguous valid choice. Official source note: * The answer is ₹ 4.05 crores
Topics: Income Tax
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