Question
What is the maximum income limit within a financial year
for salaried resident individuals to be eligible to file the ITR 1 form for income tax returns in India?Solution
Salaried resident individuals with a maximum income of Rs 50 lakh within a financial year are eligible to file the ITR 1 form. • ITR 1 Applicability: o Income source should primarily be salary or pension. o Income may include a single property and other sources (excluding horse racing, gambling, lotteries, etc.). o The taxpayer should not own property outside India. o No foreign income should be received. o Interest income from savings, deposits, and family pension is allowed.Â
Which section of the Companies Act 2013 says, as a statutory requirement, the Audit committee of the company or the Board shall, in consultation with th...
State which statement is correct:
Which of the following statements is INCORRECT?
The standard cost of labour for 1 unit is 2 hours at ₹50 per hour. Actual production is 100 units and actual labour cost is ₹11,000 for 200 hours. W...
For every debit there will be an equal credit according to
The preparation of a trial balance is for:
Company’s cash book shows ₹1,20,000 (CR) as at year-end. Bank statement shows ₹1,05,000 (CR). Outstanding cheques total ₹20,000 and deposits-in-...
As per the Companies Act, 2013, which of the following companies must appoint a full-time Company Secretary?
According to Companies Act 2013, one person company will always be formed as:
What is the required provisioning for under-construction Commercial Real Estate (CRE) loans as per RBI’s 2025 guidelines?
