Explanation:
Salary to partners is allowed only if partnership deed provides. Interest on capital is not automatic. Profits sharing can be unequal. Minor cannot be a partner, only admitted to benefits.
Under the Income Tax Act, the deduction under Section 80C has a maximum limit of ₹1,50,000. Which of the following is NOT eligible for deduction under Section 80C?
Explanation:
Contributions to NPS Tier-I are eligible for deduction under Section 80CCD(1) (within the 80C limit) and an additional ₹50,000 under 80CCD(1B). However, the question asks what is not eligible *under 80C specifically*. Actually, NPS Tier 1 is under 80CCD. Let me rephrase to be precise.
Explanation:
Social accounting encompasses reporting on social, environmental, and ethical impacts, often termed social responsibility accounting, environmental accounting, or green accounting.
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