alleryStart learning →Pay on the first Rs 3,00,000 of book profit is Rs 1,50,000 or what percent, if higher?
A60 percent
B90 percent
C100 percent
D75 percent
Answer & Solution
Correct answer: B. 90 percent
Section 40(b)(v) allows on the first Rs 3,00,000 of book profit Rs 1,50,000 or ninety per cent, whichever is more.
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