McqMate
| Q. |
What is the amount of contribution that a company can make for political purposes? |
| A. | 10% of net profits of the preceding financial year on which the tax has been paid. |
| B. | 5% of gross profit of the current assessment year. |
| C. | amount not exceeding 5% of the net profits of three immediately preceding financial years. |
| D. | none of these. |
| Answer» C. amount not exceeding 5% of the net profits of three immediately preceding financial years. | |
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