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CA Inter doubt

ABC Limited has reported ₹85,000 as per tax profit in first quarter and expects a loss of 25,000 each in subsequent quarters. It has corporate tax rate slab of 20% on the first 20,000 earnings and 40%

Asked by Sinchana11 Sept 2024466 views

2 answers

  1. Arpit · 13 Sept 2024

    a. 17000 As the overall gain for the year is 10,000 only thats why tax for the year comes under 20% category. Tax for 1st quarter :- 85000 * 20% = 17,000

  2. Sujal · 11 Sept 2024

    b.) 30,000 !

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