Expenditure incurred by an hotelier on replacement of linen and carpet – McqOptions

MCQOPTIONS

1.	Expenditure incurred by an hotelier on replacement of linen and carpets in his hotel. Such expenditure shall be considered as
A.	Revenue expenditure
B.	Deferred revenue expenditure
C.	Capital expenditure
D.	Illegal expenditure
Answer» B. Deferred revenue expenditure

Discussion

No Comment Found

Related MCQs

Reducing tax liability, utilizing the deductions, exemptions or reliefs allowed in the Act and Rules is called----
Under the Income-tax Act, 1961, which of the following outlays incurred by Sun Ltd. during the previous year ended 31st March, 2019 will not be admissible as deduction while computing its business income
Any corporation by or under any Central, State or Provincial Act or a Government Company as defined in the Companies Act is called -----
A company which is neither an Indian company not has made the prescribed arrangements for the declaration and payment of dividends within India is called -----
A person carrying not less than----- of the voting power in a company is said to have substantial interest in the company.
If the tax liability of a company is less than 18.5% of its book profits, the company is liable to pay MAT at the rate of ------
Income distributed by a fund other than a money market mutual fund or a liquid fund to an individual or HUF is subject to CDT at the rate of
Which is the charging section of income under the head profits and gains of business or profession?
.Group of assets falling within a class of assets comprising of tangible & intangible assets is known as :
As per section 30, which expenditure incurred for a building used for the business or profession shall not be allowed as deduction?