Welcome to Monday Corner, an initiative from Tax Publishers…
Monday Corner is specially designed to reward the intellectuals like you:
- We will send a Brainteaser on every Monday through email to your inbox and
- You need to send your answer in revert with reasoning by Wednesday at quiz.taxpub@gmail.com
The most suitable reply will be uploaded on our website (www.taxpublishers.in) in Monday Corner along with the photo/credentials of the winner of the week. If, per chance, winner happens to be more than one, the result will be drawn by lottery.
The winner would receive any one of the following books as free gift...
Quiz for the week (13 Jan 2025) :
Jayant is engaged in proprietary business since 2010. He has brought forward business loss eligible for set off amounting to Rs.35 lakhs. He thought that he has not been lucky and based on belief in astrology wanted to commence business in the name of his wife Kanta. He gifted Rs.30 lakhs to his wife as seed capital and conduct the same business making Kanta as owner. Assume her income in the first year is Rs.12 lakhs which was totally withdrawn by Jayant for his personal use. How would you tax the income of Kanta?
Kindly mail your answers on or before 20th January, 2025.