Question
According to the provisions of the MSMED Act, how is the
treatment of the amount of interest payable or paid by any buyer for the purposes of computation of income under the Income-tax Act, 1961?Solution
Section 23. Interest not to be allowed as deduction from income: Notwithstanding anything contained in the Income-tax Act, 1961, the amount of interest payable or paid by any buyer, under or in accordance with the provisions of this Act, shall not, for the purposes of computation of income under the Income-tax Act, 1961, be allowed as deduction.
NRLM has a provision for interest subvention, to cover the difference between the Lending Rate of the banks and 7%, on all credit from the banks/financi...
Which process describes the mixing of soil by earthworms?
Nuclei contain densely granular region calledÂ
What resources is a manger mainly concerned with?
Which among the following can be classified as often cross pollinated species?
Which of the following is the major anthocyanin responsible for red coloration in rose petals?
The coriander flower is:Â
Which of the following statements is true for Hooke's law?
Best nitrogenous fertilizer for rice crop is
Which of the following is INCORRECT?
