List I […]
a. Tax-shield on depreciation and interest is an important variable both for the lessor and the lessee b. Lease transactions in India are governed by the Lease Act c. A lessee should evaluate the lease options against the buying option d. As per AS-19, financial lease is shown in the balance sheet of the lessee […]
List-I List-II (a) Claims (i) canteen , uniform, accident relief (b) Fringe benefits (ii) telephone/ mobile allowance, internet allowance, medical allowance (c) Perquisites (iii) company car, club membership, paid holidays, furnished house.
Assertion (A): Among all methods of charging depreciation of fixed assets, diminishing balance method is the best method Reasoning (R): Diminishing balance method of charging depreciation has been permitted under the Income Tax Act, 1961 for claiming deduction for depreciation
List-I List-II a) Sec 6 (i) i) Agriculture income b) Sec 10 AA ii) Leave travel concession c) Sec 10 (i) iii) Resident d) Sec 10 (5) iv) Leave salary