Tax Trivia
#1. Lilly had the following profits and losses for the year 2018. i. Profits from salon business 400,000 ii. Farming loss (100,000) iii. Directors allowance 300,000 iv. Insurance compensation for her car 200,000 What is her taxable income for the year?
#2. The principle of equity in taxation implies
#3. TOT does not apply to the following except
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