Profits and Gains of Business or Profession – Test 2

Which of the following business’s setting u and operation are not eligible for deduction u/s 35 AD?

Which of the following business are not eligible for deduction u/s 35AD?

Which of the following business are not eligible for deduction u/s 35AD?

Which of the following business are not eligible for deduction u/s 35AD?

Which of the following business are not eligible for deduction u/s 35Ad ?

Duescare Ltd., engaged in fertilizer production in India, purchased additional plant for Rs.35 lakhs, to be exclusively used for production of fertilizer. The deduction u/s 35AD shall be Rs.______

As per section 35 AD of Income tax Act 1961, 100% deduction shall be allowed on account of any________expenditure, incurred  wholly and exclusively for the purpose of building notified three star hotel in India.

Carriot Hotels, constructed a three star hotel in India and claimed deduction u/s 35AD,  but maintenance and operation of the hotel was given to XYZ Ltd. The deduction allowable u/s 35AD for capital expenditure shall be allowed to _________

Ghopollo Ltd. built a hospital in India during F.Y.2017-18, and incurred Rs.50 lakhs towards hospital building and medical equipment. The hospital started operations on 1-4-2018. It further incurred additional expenditure of Rs.80 lakhs for purchase of additional equipment during 2018-19. Deduction u/s 35AD for F.Y.2018-19 would be Rs.______

Snortis Ltd, built a hospital in India during FY 2017-18 and incurred Rs.50 lakhs towards hospital building and medical equipment, which was capitalized in this FY and not on commencement of operations of hospital on 1-4-2018. It further incurred an expenditure of Rs.80 lakhs for purchase of additional equipment during 2018-19. Deduction u/s 35AD for FY 2018-19 would be

Champ Ltd. provided warehousing facilities exclusively for commercial goods. During FY 2018-19, it demerged its business into two units, commercial produce unit warehouse and warehousing for agriculture produce (for which it incurred additional capital expenditure of Rs.50 lakhs) Deduction u/s 35AD for FY 2018-19 would be Rs.______

Thandai Ltd. had set up a cold chain facility and it purchased certain old equipments from an existing company for Rs.75 lakhs during 2018-19 for setting up the business. Deduction u/s 35AD for F.Y.2018-19 would be Rs.________

Thandal Ltd had sep up a cold chain facility, and it purchased certain equiments of Rs.75 lakhs during 2018-19 on which it claimed deduction u/s 35AD. Later, in FY 2019-20, it transferred such equipment to one of its other businesses, Such transaction would result in

Champ Ltd. provided wherehousing facilities exclusively for commercial goods. During FY 2018-10, it demerged its buinsess into two unit, commercial produce unit warehouse and wharehousing for agricultural produce (for which it incurred additional capital expenditure of Rs.50 lakhs). Deduction u/s 35AD for FY 2018-19 would be Rs. _________

Thandai Ltd. had set up cold chain facility and it purchased certain old equipments from an existing for Rs.75 lakhs during 20189-19 for setting up the business. Deduction u/s 35AD for F.Y.2018-10 would be Rs______

Thandai Ltd. had set up a cold chain facility, and it purchased certain equipments of Rs.75 lakhs during 2018-19 on which it claimed deduction u/s 35AD. Later, in FY 2019-20, it transferred such equipment to one of its other business. Such transaction would result in _______

Suncare Ltd. had set up a cold chain facility and it purchased certain equipments for Rs. 75 lakhs during 2018-19 on which it claimed deduction u/s 35AD. Depreciation that would have been allowable u/s 32, would have been Rs.11.25 lakhs in FY 2018-19 if no deduction was claimed u/s 35AD. Later, in FY 2019-20, the company transferred such equipment to one of its other business. The amount that would be deemed to be income in FY 2019-20 Rs.________

Section 35CCA provides a deduction for payment made to

Undivided Ltd. incurred an expenditure of Rs.50 lakhs on agriculture extension project notified by the CBDT during FY 2018-19. Deduction available u/s 35CCCC in respect of such expenditure would be Rs._____________

Alpha Inc., a foreign company, incurred an expenditure of Rs.50 lakhs on skill development project notified by the CBDT during FY 2018-19. It has a permanent establishment in India, which has taxable u/s 35CCD of Income-tax Act, 1961 to Alpha Inc. shall be Rs.______

Bell Weather LLP, has incurred an expenditure of Rs.50 lakhs on purchase of Land & Building which is to be used for skill development project notified by the CBDT during FY 2018-19. The deduction available u/s 35CCD of Income-tax Act, 1961 to Bell weather shall be Rs._____

Preliminary expenditure is allowed as a deduction in ______________

Which of the following criterion are considered to ascertain deduction for preliminary expenditure ?

Upper Ltd. started business in FY 2016-17. It paid ROC fees of Rs. 5,000 for increasing authorized capital in FY 2018-19 not related to extension of a project. Deduction for preliminary expenditure for such ROC fees shall be Rs._______

Deduction u/s 35D is not available to

Umang Limited incurred expenditure of Rs.10 lakhs to conduct market survey for assessing demand of product in which business is proposed to be carried out during FY 2017-18. They started business in FY 2018-19. The deduction _________ available u/s 35D for such expenditure

Upper Ltd. has a capital employed of Rs.46,00,000. It incurred preliminary expenses of Rs 2,40,000. The deduction availabe u/s 35D for such expenditure to Upper Ltd. Shall be Rs.__________

For claiming deduction u/s 35D firm_

Deduction  for expenditure incurred by Indian company on Amalgamation or demerger is allowed as a deduction to the extent of

Expenditure incurred on voluntary retirement scheme is allowed as a deduction to the extent of