Question
A 'Non-Banking Financial Company-Investment and Credit
Company (NBFC-ICC)' is primarily involved in:Solution
The RBI classifies NBFCs based on their principal activity. An NBFC-Investment and Credit Company (NBFC-ICC) is a core category that encompasses companies whose principal business is: 1. Providing loans and advances. 2. Acquisition of securities (shares, bonds, debentures, etc.). 3. Financial leasing or hire-purchase. 4. Asset financing. Essentially, it's a broad category for NBFCs engaged in mainstream lending and investing, excluding those with specialized focuses like housing (HFCs), infrastructure (IDF), or microfinance.
The threshold limit for tax audit for business entities under section 44AB has been proposed to change to how much amount for those assessees, where amo...
GAAP stands for:
A registered dealer sells goods worth ₹5,00,000 with GST @18%. He has input tax credit (ITC) of ₹70,000. What is his net GST payable in cash?
A firm pays Rs. 3,00,000 as salary to partners, allowed as per deed. Book profit is Rs. 10,00,000. What is the maximum allowable deduction for partner�...
Residential Status of a Person is determined for
Mr. A (age 35) has a total income of ₹14,00,000. What is his tax liability for A.Y. 2024-25? (Assume no deductions)
Which section of the Income Tax Act, 1961 deals with the income from "Salaries"?
A way by which the companies raise capital without going to the public is known as __________________
Deduction under Section 80C is available up to:
As per the Finance Act 2025, what is the revised tax rate for individuals opting for the new tax regime with income between ₹12 lakhs and ₹15 lakhs?
