Q50
Banking company or Financial Institution have an option of claiming ITC:
A.
Actual Credit or 50% credit
AnswerB.
Only 50% Credit
C.
Only cctual credit
D.
Actual credit and 50% credit
Answer: Option A
Solution
Answer: Option A
Solution:
Banking companies or financial institutions have an option for claiming the ITC on the deposits and loans or advances to comply with actual rules or claim the 50% of the total ITC available in each month and the rest will lapse.