As per the existing rules, any employer that contributes to the employee’s NPS account faces an income tax deduction up to a fixed percentage of salary (basic + dearness allowance), irrespective of any limit, under Section 80 CCD(2). The limit …
Goods amounting to ₹45,000 were sold for ₹60,000 on a cash basis. It affects Cash and Inventory on the assets side and capital on the other side. There is an increase in cash by ₹60,000 and a decrease in inventory …