Economy, asked by gulshanverma8615, 1 month ago

193. In case the assessee follows mercantile system of accounting, bonus
or commission to the employee are allowed as deduction on:
(a) Due basis
(b) Payment basis
(c) Due basis but subject to section 43B
(d) Any of the above

Answers

Answered by deepshikhamaity
6

Explanation:

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Answered by mindfulmaisel
0

Multiple Choice Questions:

In case the assessee follows mercantile system of accounting, bonus  or commission to the employee are allowed as deduction on:

(a) Due basis

(b) Payment basis

(c) Due basis but subject to section 43B

(d) Any of the above

Section 43B

  • Section 43B of the Income Tax Act, 1961 allows certain expenses to be claimed in the same year in which such expenses were incurred.
  • As per Section 43B, if the assessee follows mercantile system of accounting, the bonus and commission expenditure to the employees are allowed as deduction on due basis.

Note: The correct answer is highlighted in the question.

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