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    • 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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