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Commerce · Q97

Income Tax and Corporate Tax

Graduate and Post Graduate · Commerce · question 97

Q97

Which of the following expense/loss is not admissible as deduction while computing income from business and profession?

A.
Stock-in-trade lost in fire Rs. 20,000
B.
Entertainment expenses Rs. 10,000
C.
Commission Rs. 2,000 paid in order to receive business
D.
Gift on the marriage of an employee
Answer

Answer: Option D

Solution

Answer: Option D
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