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Commerce Income Tax And Corporate Tax Difficulty: Medium

Match the items of List-I with List-II with regard to balance of payments equilibrium: List-I List-II a. Exchange control 1. Exporters surrender foreign exchange to the central bank b. Trade Policy Measure 2. Bank rate raised by the central bank c. Expenditure reducing policy 3. Reduction in foreign exchange rate d. Expenditure switching policy 4. Enhancing exports by granting subsidies Assertion (A): When a company earns profit prior to its incorporation, it is called capital profit. Reason (R): Capital profit cannot be used for distribution as a dividend to shareholders. Which of the following is correct? . . . . . . . . process loss should be transferred to costing profit & loss account. Which of the following Schedule of the Companies Act, 2013 deals with depreciations? A company auditor can be removed before expiry of his term by: