alleryStart learning →Trade receivables of Rs. 100 relate to revenue already included in taxable profit. Their tax base is:
ANil
BRs. 100
CRs. 50
DRs. 150
Answer & Solution
Correct answer: B. Rs. 100
The revenue is already taxed, so the whole carrying amount is deductible against future benefits and the tax base equals Rs. 100.
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