Question
A company incurs ₹10 lakh as interest on a term loan
used to acquire plant and machinery. When can this interest be claimed as a tax-deductible expense?Solution
Interest incurred before commencement of commercial operations is capitalized as part of the asset’s cost under Section 43(1) of the Income Tax Act and relevant AS/Ind AS.
Which of the following statements are true regarding the principle of Opportunity Cost?
1. Opportunity cost refers to the cost of the next best a...
In which region is human evolution believed to have originated?
In which year did India first win a gold medal at the Olympic Games?
When we apply a muscular force with a hammer, which other force fixes the nail in the wall?
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The first phase of bank nationalization began in the year of
Consider the following statements in relation to Finance Commission:
1. It is established under Article 280.
2. It is a quasi-judicial b...
