Question
What was the notable outcome of India's Consumer Price
Index (CPI) for July 2024?Solution
India's Consumer Price Index (CPI) for July 2024 recorded its lowest inflation rate in 59 months at 3.54%, indicating a significant decline in inflationary pressures, particularly in the food sector.
An employee receives gratuity of ₹12 lakhs on retirement. What is the maximum tax-exempt amount under the Income Tax Act?
A company earns ₹15 lakh net profit before tax. It donates ₹1 lakh to PM CARES Fund and claims depreciation of ₹2 lakh. What is taxable income und...
The individuals, who have availed loans for purchase of residential property, which was sanctioned between 1st April 2019 and 31 March 2021, can avail t...
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�...
Under which section of the Income Tax Act, 1961, are the provisions related to TDS on interest other than interest on securities mentioned?
A registered dealer purchased inputs worth ₹1 lakh + GST @18% and sold goods for ₹1.5 lakh + GST @18%. What is the net GST payable?
A company avails ITC (Input Tax Credit) on office furniture purchase. Later, GST auditor disallows it. Is he right to do so, support your answer with re...
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...
Cash withdrawn by the proprietor from the business for his personal use’ causes
Mr. Arjun earns ₹12 lakh as salary and has invested ₹1.5 lakh in PPF. He also pays ₹30,000 as health insurance premium for himself and ₹50,000 f...
