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Shell Philippines, a multinational company, has a total gross income for a particular year of P 50,000,000. The taxable income after taking all deductions except for depletion is P 18,500,000. What is the allowable depletion allowance for that particular year? Take percentage of gross income for oil as 22%.

Shell Philippines, a multinational company, has a total gross income for a particular year of P 50,000,000. The taxable income after taking all deductions except for depletion is P 18,500,000. What is the allowable depletion allowance for that particular year? Take percentage of gross income for oil as 22%. Correct Answer P 9,250.00

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Two statements are followed by three Conclusions I, II and III. You have to consider the statements to be true, even if they seem to be at variance from commonly known facts. You are to decide which of the given conclusions can definitely be drawn from the given statements and indicate your answer accordingly. Statements: I. After a Pay Commission bonanza of 2% hike in dearness allowance in March, central government employees and pensioners can expect another round of salary increase with the government set to modify the index and base year for calculating dearness allowance.  II. The labour ministry is working on a new series of consumer price index for industrial workers (CPI-IW), which is used to determine dearness allowance (DA).  Conclusions: I. DA is a cost of living adjustment allowance paid to government employees, public sector employees and pensioners in the country. It is calculated as a percentage of an employee’s basic salary to mitigate the impact of inflation on people.  II. Since theindex is used to determine dearness allowance of all government employees and industrial workers there may be significant financial implication. III. The trend so far is that the weightage of transport, healthcare and housing has gone up many fold in the new series in the monthly expenditure of an industrial worker, especially consumption of petrol and diesel with the addition of cars to it, while there is decline in overall food basket which is being diversified.
The line chart given below shows the percentage of net profit of company P and company Q from 2014 to 2018. Net Profit % = \(\frac{({Income}-{Expenditure})}{Expenditure}\times 100\) Which of the following statement(s) is/are correct? I. If the income of company P in the year 2016 was Rs. 7250, then expenditure of the company in that year was Rs.45500. II. If in 2016 the ratio of expenditure of company P to the expenditure of company Q is 4 ∶ 5, then the ratio of income of company P to the income of company Q is 16 ∶ 15.
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Modern civilization is completely dependent on energy, which has therefore to be abundant and also economical. About 85% of the world's energy is supplied by oil, coal and natural gas while nuclear, hydro, wind and solar power and biomass supply the rest. Coal, nuclear and hydro are used primarily to generate electricity while natural gas is widely used for heating. Biomass is used both for heating and cooking. The wind and solar power is the future's hope as they are sustainable energy sources. Oil powers almost all machines that move and that makes oil uniquely versatile. Oil powered airplanes carry 500 people across the widest oceans at nearly the speed of sound. Oil powered machines produce and transport food. Oil powered machines are ubiquitous. Clearly, we live in the age of oil but it is drawing to a close. According to data available if oil production remains constant until it's gone, there is enough to last 42 years. Oil wells will produce less as they become depleted, which will make it impossible to keep production constant. Similarly natural gas and coal will last another 61 years and 133 years respectively. Naturally, as they become scarce, they become expensive, leading to a worldwide energy crisis. If we are to survive on this planet, we have to make a transition to sustainable energy sources. The transition may be willy-nilly or planned - the choice is ours. The dawning era of limited and expensive energy will be very difficult for everyone on earth but will be even more difficult if it is not anticipated. It is of utmost importance that the public and policymakers understand the global energy crisis and act in tandem to ensure that the species 'homo sapiens' does not become extinct. The theme of the passage is
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Modern civilization is completely dependent on energy, which has therefore to be abundant and also economical. About 85% of the world's energy is supplied by oil, coal and natural gas while nuclear, hydro, wind and solar power and biomass supply the rest. Coal, nuclear and hydro are used primarily to generate electricity while natural gas is widely used for heating. Biomass is used both for heating and cooking. The wind and solar power is the future's hope as they are sustainable energy sources. Oil powers almost all machines that move and that makes oil uniquely versatile. Oil powered airplanes carry 500 people across the widest oceans at nearly the speed of sound. Oil powered machines produce and transport food. Oil powered machines are ubiquitous. Clearly, we live in the age of oil but it is drawing to a close. According to data available if oil production remains constant until it's gone, there is enough to last 42 years. Oil wells will produce less as they become depleted, which will make it impossible to keep production constant. Similarly natural gas and coal will last another 61 years and 133 years respectively. Naturally, as they become scarce, they become expensive, leading to a worldwide energy crisis. If we are to survive on this planet, we have to make a transition to sustainable energy sources. The transition may be willy-nilly or planned - the choice is ours. The dawning era of limited and expensive energy will be very difficult for everyone on earth but will be even more difficult if it is not anticipated. It is of utmost importance that the public and policymakers understand the global energy crisis and act in tandem to ensure that the species 'homo sapiens' does not become extinct. Biomass is an energy source used in
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Modern civilisation is completely dependent on energy, which has therefore to be abundant and also economical. About 85% of the world's energy is supplied by oil, coal and natural gas while nuclear, hydro, wind and solar power and biomass supply the rest. Coal, nuclear and hydro are used primarily to generate electricity while natural gas is widely used for heating. Biomass is used both for heating and cooking. The wind and solar power is the future's hope as they are sustainable energy sources. Oil powers almost all machines that move and that makes oil uniquely versatile. Oil powered airplanes carry 500 people across the widest oceans at nearly the speed of sound. Oil powered machines produce and transport food. Oil powered machines are ubiquitous. Clearly, we live in the age of oil but it is drawing to a close. According to data available if oil production remains constant until it's gone, there is enough to last 42 years. Oil wells will produce less as they become depleted, which will make it impossible to keep production constant. Similarly natural gas and coal will last another 61 years and 133 years respectively. Naturally, as they become scarce, they become expensive, leading to a worldwide energy crisis. If we are to survive on this planet, we have to make a transition to sustainable energy sources. The transition may be willy-nilly or planned - the choice is ours. The dawning era of limited and expensive energy will be very difficult for everyone on earth but will be even more difficult if it is not anticipated. It is of utmost importance that the public and policymakers understand the global energy crisis and act in tandem to ensure that the species 'homo sapiens' does not become extinct. The synonym for Ubiquitous is
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Modern civilisation is completely dependent on energy, which has therefore to be abundant and also economical. About 85% of the world's energy is supplied by oil, coal and natural gas while nuclear, hydro, wind and solar power and biomass supply the rest. Coal, nuclear and hydro are used primarily to generate electricity while natural gas is widely used for heating. Biomass is used both for heating and cooking. The wind and solar power is the future's hope as they are sustainable energy sources. Oil powers almost all machines that move and that makes oil uniquely versatile. Oil powered airplanes carry 500 people across the widest oceans at nearly the speed of sound. Oil powered machines produce and transport food. Oil powered machines are ubiquitous. Clearly, we live in the age of oil but it is drawing to a close. According to data available if oil production remains constant until it's gone, there is enough to last 42 years. Oil wells will produce less as they become depleted, which will make it impossible to keep production constant. Similarly natural gas and coal will last another 61 years and 133 years respectively. Naturally, as they become scarce, they become expensive, leading to a worldwide energy crisis. If we are to survive on this planet, we have to make a transition to sustainable energy sources. The transition may be willy-nilly or planned - the choice is ours. The dawning era of limited and expensive energy will be very difficult for everyone on earth but will be even more difficult if it is not anticipated. It is of utmost importance that the public and policymakers understand the global energy crisis and act in tandem to ensure that the species 'homo sapiens' does not become extinct. The energy sources of the future are
Read the passage carefully and choose the best answer to each question out of the four alternatives and click the button corresponding to it.
Modern civilisation is completely dependent on energy, which has therefore to be abundant and also economical. About 85% of the world's energy is supplied by oil, coal and natural gas while nuclear, hydro, wind and solar power and biomass supply the rest. Coal, nuclear and hydro are used primarily to generate electricity while natural gas is widely used for heating. Biomass is used both for heating and cooking. The wind and solar power is the future's hope as they are sustainable energy sources. Oil powers almost all machines that move and that makes oil uniquely versatile. Oil powered airplanes carry 500 people across the widest oceans at nearly the speed of sound. Oil powered machines produce and transport food. Oil powered machines are ubiquitous. Clearly, we live in the age of oil but it is drawing to a close. According to data available if oil production remains constant until it's gone, there is enough to last 42 years. Oil wells will produce less as they become depleted, which will make it impossible to keep production constant. Similarly natural gas and coal will last another 61 years and 133 years respectively. Naturally, as they become scarce, they become expensive, leading to a worldwide energy crisis. If we are to survive on this planet, we have to make a transition to sustainable energy sources. The transition may be willy-nilly or planned - the choice is ours. The dawning era of limited and expensive energy will be very difficult for everyone on earth but will be even more difficult if it is not anticipated. It is of utmost importance that the public and policymakers understand the global energy crisis and act in tandem to ensure that the species 'homo sapiens' does not become extinct. The survival of mankind will depend on
X, an employee of the private company, gets Rs. 30,000 p.m. basic salary and entitled to Rs. 1,500 p.m. as entertainment allowance. What are the deductions u/s 16 (ii) from gross salary in respect of entertainment allowance?
Given below are two statements: Statement I : Deferred Tax Liabilities (Net) is the amount of tax on the temporary difference between the accounting income and taxable income. It arises when the accounting income is more than the taxable income. Statement II : Deferred Tax Liabilities (Net) and Deferred Tax Assets (Net) are only book entries i.e. they are neither actual liability nor actual asset. In the light of the above statements, choose the correct answer from the options given below:
Following are the shortilisting criteria for a candidates to be called for Interview for the post of Deputy Manager in an Insurance company. The candidate must (i) be at least 30 years and not more than 35 years as on 1st January, 2020. (ii) be a graduate in any discipline. (iii) have done MBA with specialisation in insurance with at least 75% marks. (iv)have at least one year post qualification work experience in an insurance company. (v) have secured at least 60% of marks in the screening test conducted by the company. (vi) a native of Maharashtra. However, if the applicant fulfills the above mentioned criteria except a) at (iv) above, the case may be referred to the General Manager of the company. b) at (v) above, the case may be referred to the Chief Manager of the company. c) at (vi) above but has studied Marathi as one subject in class 10, his case will be referred to Divisional Manager of the company. Rekha Kesharwani is 32 years old as on 1st Jan 2020. She has done B.Sc. from a university in Uttar Pradesh. She has done her post graduation in Business administration with a specialisation of Insurance from a reputed institute at Pune in 2016. She has scored 75% marks in the screening test conducted by the company. She is working as a development officer in LIC of India. What decision about Rekha Kesharwani can be taken on the basis of the information given above?