Question
Mr. Raj, a salaried individual, claims HRA, standard
deduction, and 80C deductions under the old regime. He is considering switching to the new tax regime under Section 115BAC. Which of the following will he have to forego under the new regime?Solution
Under the new regime (Section 115BAC), most exemptions and deductions including HRA and 80C are not allowed (except 80CCD(2) and some employer contributions).
With respect to Marginal Costing, which of the following statement is incorrect?
In the context of filing of financial statements by a company, the term “XBRL” means......................
If Selling Price is 9 per unit, variable cost is 5 per unit and fixed cost is 100000, what is the Margin of safety in % if the budgeted units are 1,00,000.
Which of the following is considered as nominal account?
What is the minimum amount of loan outstanding of a borrower or guarantor, for them to be classified as a Wilful Defaulter?
A listed insurer remeasures its defined benefit plan obligation at year-end, and also records fair value changes of equity instruments irrevocably desig...
Which of the following is not allowed in small accounts?
The costs which were incurred in the past and ignored under capital budgeting are known as_____.
The cost of sales is equal to:
Which of the following assessee is not liable to pay advance tax u/s 207?
