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a) The Light Company can Opt For change In period of taxable, he must follow cut of procedures so he can segregate the income between two periods. He must record all the transactions between jan to april and calculate depreciation for the complete year . The Income earned during this period is chargeable to tax under the the FY 2019-20

b) The Tax liability for the year is to be calculated on the income for the period Between January to April I.e) on $50,000. The Tax should be Calculated as per Applicable Tax Rate prescribed.

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