Question

Difference btw capital and revenue ubder income tax

Answer 1

Income tax Act, 1961 provides a separate head “ CAPITAL GAINS” for levying tax on capital receipts. Similarly, while calculating net taxable income of an assessee only revenue expenses are allowed to be deducted out of revenue receipts. ... This make the distinction between capital and revenue of vital importance.

Answer 2

Explanation:

the SMC curve cut the AVC curve at the minimum point of the AVC curve