CAP CLASSES

When a promissory note or a bill of exchange has been dishonoured by non-acceptance or non-payment, the holder may, within , cause such dishonour to be noted and certified by notary public.

The payer for honour is entitled to recover all the sums paid by him from

Statement (1): It is presumption of law that every negotiable instrument bearing a date was made or drawn on such date. Statement (2): It is presumption of law that every lost promissory note or bill was duly stamped.

Statement (1): It is presumption of law that every holder of a negotiable instrument is a holder in due course Statement (2): It may be proved before the court that a holder of negotiable instrument is not a holder in due course.

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A cheque is

A truncated cheque means a cheque which is truncated during the course of clearing cycle by

In case of cheque, the liability of drawer is .

In case of an accepted bill, the liability of drawee is

Until the bill is accepted, the liability of drawer is .

In case on an accepted bill, the liability of drawer is

An instrument containing a promise to is valid promissory note.

Person named in the instrument to whom money is directed to be paid is known as

Where the total turnover of an Assessee eligible for presumptive taxation u/s 44AD is received entirely by account payee cheque during the previous year 2018-19, the specified rate of presumptive business income is-

XYZ Ltd. incurred capital expenditure of INR 1,50,000 on 1.4.2018 for acquisition of patents and copyrights. Such expenditure is-

Mr. X, a retailer acquired furniture on 10th May 2018 for INR 10,000 in cash and on 15th May 2018, for INR 15,000 and INR 20,000 by a bearer cheque and account payee cheque respectively. Depreciation allowable for A.Y 2019-20 would be-

A Ltd. has unabsorbed depreciation of INR 4,50,000 for the P.Y 2018 -19. This can be carried forward-

An Assessee uses plant and machinery for the purpose of carrying on his business under section 31. He shall be eligible for deduction on account of