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A little correction made in this question...Pls consider the changes and then re-evaluate your answer

💥 Cover your entire 100 marks of CA Inter Corporate & Other Laws syllabus for Nov 2023 using this Comprehensive Marathon By CA Sahil Grover sir 🔥🔥 📺 Corporate Law https://youtu.be/4RtuW_qy4FE 📺 Other laws https://youtu.be/8huGO_MlA6w Spcl Features of Marathon lecture:- 💎 All amendments for Nov 23 exams already covered in revision lecture 💎 Entire revision done from revision Notes to ensure easy retention for last day preparation 💎 Each and every topic of syllabus covered 💎 Unique learning skills for ease of learning

Law Question for Today:- Angel Infrastructures Pvt. Ltd. with a paid up capital of Rs.45 Lacs and annual turnover of Rs.175 Lacs, is a wholly owned subsidiary of Almightly Infrastructure Development Ltd. A listed company. Can Angel Infrastructures be called a small company? a) Yes. The paid up capital and annual turnover of Angel Infrastructure Pvt. Ltd. is not exceeding the limit as specified under the definition of Small company. b) No. Because Angel Infrastructure Pvt. Ltd. is a wholly owned subsidiary company. c) No. Because Angel Infrastracture Pvt. Ltd. is not a subsidiary of a listed company. d) No. Because the paid up capital is Rs. 45 lacs less than prescribed limit of Rs. 50 Lacs but its turnover is exceeding Rs.100 Lacs.

Income Tax Question for Today:- Mr. Ashutosh purchased his first dream home in Bangalore on 16.8.2022. He applied for home loan of Rs. 40 lakhs from IDFC bank on 15.7.2022, the same was sanctioned by bank on 20.7.2022. The stamp duty value of the said house was Rs. 44 lakhs. The interest due on the said home loan is Rs. 3,75,000 for the financial year 2022-23. Due to liquidity issues, Mr. Ashutosh could only pay Rs. 3,26,000. Compute the total interest deduction Mr. Ashutosh can claim for the A.Y. 2023-24, assuming Mr. Ashutosh doesn’t opt for the tax rates under the new scheme. (a) Rs. 3,26,000 (b) Rs. 2,00,000 (c) Rs. 3,75,000 (d) Rs. 3,50,000

Mr. Arpit, an employee of MNO Ltd. has contributed Rs. 1,61,280 towards NPS and similar amount is contributed by his employer. His basic salary is Rs. 80,000 p.m. and dearness allowance is 40% of basic salary which forms part of retirement benefits. He also paid Rs. 55,000 towards LIC premium for himself and his wife and medical insurance premium of Rs. 35,000 by crossed cheque for his mother, being a senior citizen during the previous year 2022-23

Anirudh stays in New Delhi. His basic salary is Rs. 10,000 p.m., D.A. (60% of which forms part of pay) is Rs. 6,000 p.m., HRA is Rs. 5,000 p.m. and he is entitled to a commission of 1% on the turnover achieved by him. Anirudh pays a rent of Rs. 5,500 p.m. The turnover achieved by him during the current year is Rs. 12 lakhs