Q303
Which of the following statements are correct? 1. 30% depreciation is allowed on neon sign board. 2. Animals are used for business purposes. Hence, depreciation shall be allowed on them. 3. For the purpose of taxation, there should not be and indeed there is no distinction made between legal and illegal business. Select the correct answer using the options given below
A.
Only 1
B.
Both 1 and 2
C.
Only 3
AnswerD.
Both 1 and 3
Answer: Option C
Solution
Answer: Option C
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