ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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improved technology
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corporate downsizing
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change in social attitudes
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new tax laws that deduct expenses for home offices
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Detailed explanation-1: -Nature and Amount of Deduction: 100% Deduction shall be allowed an account of any expenditure of capital nature incurred wholly and exclusively for the purpose of the above specified business carried on by such assessee during the previous year in which such expenditure in incurred by him.
Detailed explanation-2: -Tax on non-monetary perquisites is paid by the employer. The tax so paid by the employer is not taxable in the hands of employees by virtue of section 10(10CC). While calculating income of the employer, the tax paid by the employer on non-monetary perquisites is not deductible under section 40(a)(v).
Detailed explanation-3: -Rent, Rates, Taxes, Repairs And Insurance For Building [Section 30] Repairs and insurance of machinery, plant and furniture [Section 31] Depreciation [Section 32] More items
Detailed explanation-4: -Hire Your Own Family Members and Relatives. Hiring family members can prove to be a significant step to reduce taxes. Travelling and Accommodation. Invest More in Marketing. Business Utilities. Medical Insurance. Correctly Deduct Tax at Source. Donation. Housing Loan. More items •22-Jan-2023