Quiz for the week (27 Oct 2025) :
Fairy (P) Ltd, Baroda has a unit in SEZ eligible for deduction under section 10AA. For the year ended 31st March, 2025 it has net profit of Rs.20 lakhs before considering the following: (i) payment due to MSME units as on 31st March,2025 was Rs. 12 lakhs outstanding for more than prescribed time under MSMED Act, 2006; and (ii) interest paid to a non-resident Rs 3 lakhs without deduction of tax at source. The SEZ unit became operational w.e.f. 1st April, 2019. Determine the total income for the asst.year 2025-26.
Share your thoughts on the above on or before 3rd November, 2025.