Tax with CA Sahil Jain:
Answer to Q38 is (e). As per amended section 44AE, presumptive income in case of heavy goods vehicles is Rs 1,000 per ton for each month or part thereof for which a truck is owned by the assessee.
However, since the assessee owns 12 trucks, he cannot avail section 44AE deduction and thus, with the given information, answer cannot be computed.
Answer to Q38 is (e). As per amended section 44AE, presumptive income in case of heavy goods vehicles is Rs 1,000 per ton for each month or part thereof for which a truck is owned by the assessee.
However, since the assessee owns 12 trucks, he cannot avail section 44AE deduction and thus, with the given information, answer cannot be computed.
Q39. Mr. Chintu, aged 65yrs, received an interest income of Rs. 60,000 from a Post Office. How much deduction is allowed on such interest?
Anonymous Poll
20%
a) 10,000
7%
b) 40,000
57%
c) 50,000
16%
d) None of these
Are you aware that ICAI has issued a total of around 85 sample questions for CA final DT?
Anonymous Poll
35%
a) Yes
65%
b) No
While practicing the sample MCQs issued by ICAI, make sure that you also time yourself.
If your average time is more than 1.5 minutes per MCQ, try to bring it down, or else, it will be very hard to attempt the whole paper.
All the best! 🙂
If your average time is more than 1.5 minutes per MCQ, try to bring it down, or else, it will be very hard to attempt the whole paper.
All the best! 🙂
Important News:-
Some of CA Final & Foundation exams have been postponed again. Check the notification mentioned below regarding the same.
https://resource.cdn.icai.org/55166exam44352.pdf
Make full use of these extra days. All the best!
Some of CA Final & Foundation exams have been postponed again. Check the notification mentioned below regarding the same.
https://resource.cdn.icai.org/55166exam44352.pdf
Make full use of these extra days. All the best!
Such a wonderful time to be giving CA Exams!
ICAI reduced syllabus of many subjects but did not reduce the syllabus in Income Tax. Probably the legislators were also unhappy with this and they took charge of helping the students and hence, came up with minimal amendments in Finance Bill 2019. 😁
I'll post the amendment and revisionary videos soon. Happy Learning! 🙂
ICAI reduced syllabus of many subjects but did not reduce the syllabus in Income Tax. Probably the legislators were also unhappy with this and they took charge of helping the students and hence, came up with minimal amendments in Finance Bill 2019. 😁
I'll post the amendment and revisionary videos soon. Happy Learning! 🙂