MN Ltd. reported income tax expenses of ₹6,10,000 on its income statement for the year ended on 31st March 2020. The comparative balance sheet of the company showed that income tax payable on 31st March 2019 and 31st Mar
CS Executive · Corporate and Management Accounting · PYQS · December 2021
MN Ltd. reported income tax expenses of ₹6,10,000 on its income statement for the year ended on 31st March 2020. The comparative balance sheet of the company showed that income tax payable on 31st March 2019 and 31st March 2020 was ₹80,000 and ₹1,30,000 respectively. Based on the above information, cash payment for the income tax during the year ended on 31st March 2020 was:
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Cash Flow Statement
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