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Quiz for the week (17 Mar 2025) :

Dr. Tiwari a famous cardiologist returned to India in April, 2022 after remaining in the USA for about 20 years. He initially thought of joining a corporate hospital but later decided to start his own in Jaipur. He availed a bank loan of Rs.8 crores and contributed Rs.12 crores from his own sources to establish a 120 bed multi-speciality hospital. The cost of land was Rs.5 crore; the hospital building construction cost Rs.10 crore and hospital equipments were acquired for Rs. 3 crore. The balance was kept for working capital purposes. The hospital became operational w.e.f. 1st May, 2024. Gross collections for the FY 2024-25 amounted to Rs.25 crores and net cash income (before depreciation) after deducting all business expenses was Rs.7 crores. Advise income-tax incentives, if any, for the assessment year 2025-26.

Kindly mail your answers on or before 24th March, 2025.

Email your reply at quiz.taxpub@gmail.com

Answers :