Business Studies, asked by rudradec2422, 1 year ago

What are income chargeable to tax under the head profit and gain of business or profession

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Answered by Blaezii
3

Answer:

Income from business or profession is chargeable to tax under this head only if the business or profession is carried on by the assessee at any time during the previous year. ... Taxable profit is the profit accrued or arising in the accounting year.

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