Question
What is the maximum deduction allowed under Section 80U
of the Income Tax Act, 1961, for an individual with a severe disability?Solution
Under Section 80U, an individual with a severe disability can claim a deduction of up to ₹1,25,000 from their taxable income for the assessment year.
A manufacturer marked article at Rs. 450 and sold it allowing 30% discount. If his profit was 25%, then the cost price of the article was
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The amount spent to his family forms approximately what percent of his monthly savings?
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