Question
India has recently achieved an “outstanding outcome”
in the 2023-24 Mutual Evaluation Report by the Financial Action Task Force (FATF). According to this report, in which category has India been placed?Solution
The “regular follow-up” category indicates that India has demonstrated compliance with FATF standards, requiring standard monitoring and reviews.
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 â‚ą5,00,000 with GST @18%. He has input tax credit (ITC) of â‚ą70,000. 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 partnerďż˝...
Residential Status of a Person is determined for
Mr. A (age 35) has a total income of â‚ą14,00,000. 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 â‚ą12 lakhs and â‚ą15 lakhs?
