alleryStart learning →For the revalued item (carrying Rs. 150, base Rs. 70, rate 30%), the liability on recovery through use is:
ARs. 24
BRs. 9
CRs. 21
DRs. 45
Answer & Solution
Correct answer: A. Rs. 24
The taxable difference is 150 - 70 = 80, and 80 at 30% gives Rs. 24.
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