Direct Tax Laws & International Taxation - Nov 2023 RTP

Co-op and Gamma Co-op be entitled to deduction under section 80P for A.Y.2023-24, if they do not opt for section 115BAD? (a) Alpha Co-op is entitled to deduction u/s 80P only in respect of interest of ` 3 lakhs and not in respect of profits and gains of ` 20 lakhs. Gamma Co-op is not entitled to deduction u/s 80P. (b) Alpha Co-op is entitled to deduction u/s 80P only in respect of profits and gains of ` 20 lakhs…

12. ABC Ltd. held a dealer conference on 22nd and 23rd August, 2022 in Cochin to educate the dealers about the new product being launched by it and how the product is better than the similar products of other companies available in the market. The spouse was allowed to accompany the dealer and they could stay in the hotel from 20th August, 2022 (being a Saturday). Leisure trip was organised for dealers and their spouse on 20th and 21st August…