GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Expenditure incurred on family planning amongst the employees is allowed to
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An assessee which is a company or cooperative society
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Any assessee
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A company assessee
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None of these
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Explanation:
Detailed explanation-1: -This deduction is allowed only to company assessees. Any expenditure bona fide incurred by a company for the purpose of promoting family planning amongst its employees is allowable as deduction in the year in which it is incurred.
Detailed explanation-2: -So, section 14A is a disallowance provision. This section provides that while computing the total income of an assessee, no deduction will be permitted in respect of any expense incurred in relation to any income which is exempt from income tax.
There is 1 question to complete.