Section 24 of income tax act allows two deduction i.e. i) standard deduction & ii) deduction against interest on home loan. Content 1.What is section 24 of income tax act? 2.What is standard deduction u/s 24 of income tax act?…
Section 35D of income tax act -certain preliminary expenses incurred by Indian company before commencement of business shall qualify for amortization. 1.What is section 35D of income tax act? Section 35D of income tax act introduced to claim deduction of…
Cash transactions are straight way recorded in the cash book & on the basis of such record ledger accounts are prepared. What is Cash Book? All cash transactions are recorded in the cash book. All transactions in cash book have…