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Commerce · Q143

Income Tax and Corporate Tax

Graduate and Post Graduate · Commerce · question 143

Q143

Which one of the following items is not allowed as deduction while computing income from business and profession?

A.
Fees paid to the lawyer for drafting partnership deed
Answer
B.
Loss due to embezzlement by an employee
C.
Legal expenses paid to protect the building of the business
D.
Cost of installing a new telephone

Answer: Option A

Solution

Answer: Option A
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