Income Tax Return Quiz

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Questions and Answers

Who is obligated by law to file Income Tax Returns?

  • Individuals with gross total income over ₹5 lakh
  • Individuals with gross total income over ₹2.5 lakh (correct)
  • Individuals with gross total income over ₹3 lakh
  • Individuals with gross total income over ₹1 lakh

Which form is applicable to companies or firms, regardless of income or loss?

  • ITR 2
  • ITR 6 (correct)
  • ITR 3
  • ITR 4

Who can file a belated return and still carry forward certain losses?

  • Those with gross total income over ₹4 lakh
  • Those with gross total income over ₹3 lakh (correct)
  • Those with gross total income over ₹5 lakh
  • Those with gross total income over ₹2.5 lakh

Which individuals are eligible to claim an income tax refund?

<p>Those with gross total income over ₹2.5 lakh (D)</p> Signup and view all the answers

Why is it important to know which Income Tax Return Form is appropriate for each case?

<p>To expedite the processing by the Income Tax Department (A)</p> Signup and view all the answers

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