Question
The contributions of additional amount of Rs.50,000
towards NPS is allowed deduction under which section of the Income Tax Act?Solution
The tax benefit for contributions made under NPS are Rs.1.5 lakh u/s 80C + additional self-contribution of up to Rs.50000 under section 80CCD (1B).
A shopkeeper sells an item at a 10% loss. Had he sold it for 40 more, he would have gained 10%. Find the cost price of the item
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