Podcast
Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App
Questions and Answers
Who is obligated by law to file Income Tax Returns?
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?
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?
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?
Which individuals are eligible to claim an income tax refund?
Signup and view all the answers
Why is it important to know which Income Tax Return Form is appropriate for each case?
Why is it important to know which Income Tax Return Form is appropriate for each case?
Signup and view all the answers
Flashcards are hidden until you start studying
