For a deduction under Section 80C of the Income-tax Act, 1961, which statement is correct under the old tax regime, subject to applicable conditions?
Anonymous Quiz
9%
Every personal expenditure is deductible without limit
86%
Eligible investments and payments qualify, subject to an aggregate limit of โน1,50,000
1%
The deduction is available only to companies
4%
The deduction is automatically available under every tax regime
Forwarded from CA Tejas Suchak - Accountancy Ace
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A business purchased machinery for โน1,00,000 and paid โน5,000 for installation. What is the total cost of machinery to be capitalised?
Anonymous Quiz
4%
โน1,00,000
90%
โน1,05,000
3%
โน95,000
2%
โน5,000