CAF-2 · Chapter 4 · Question 12 of 15
A woman enterprise (a sole proprietorship owned by a woman) launched in August 2021 generates profits under the head 'Income from Business'. If the enterprise is unable to fulfill all the criteria required to claim the 100% start-up tax credit under Section 65F, what alternative tax relief is it entitled to?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) C) A 25% tax reduction on the tax payable on its business income.
Explanation
The tax payable by a woman enterprise on profits and gains chargeable under the head 'Income from Business' shall be reduced by 25% if the enterprise is unable to claim the 100% tax credit available under Section 65F.
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