Q. What is the amount of contribution that a company can make for politicalpurposes? (Solved)
1. 10% of net profits of the preceding financial year on which the tax has been paid.
2. 5% of gross profit of the current assessment year.
3. amount not exceeding 5% of the net profits of three immediately preceding financial years.
4. none of these.
- c. amount not exceeding 5% of the net profits of three immediately preceding financial years.