Question

    A company earns ₹15 lakh net profit before tax. It

    donates ₹1 lakh to PM CARES Fund and claims depreciation of ₹2 lakh. What is taxable income under Income Tax Act?
    A ₹12 lakh Correct Answer Incorrect Answer
    B ₹13 lakh Correct Answer Incorrect Answer
    C ₹14 lakh Correct Answer Incorrect Answer
    D ₹15 lakh Correct Answer Incorrect Answer

    Solution

    Net Profit: ₹15 lakh Less Depreciation: ₹2 lakh Less Donation (100% deductible): ₹1 lakh Taxable Income = ₹12 lakh

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