Appu Ltd. contributed ₹8,70,000 towards provident fund account of its employees. It actually remitted ₹5,00,000 upto 31 st March and ₹2,50,000 upto the due date for filing the return specified in section 139(1). The amou

CS Executive · Tax Laws and Practice · PYQS · June 2016
Appu Ltd. contributed ₹8,70,000 towards provident fund account of its employees. It actually remitted ₹5,00,000 upto 31 st March and ₹2,50,000 upto the due date for filing the return specified in section 139(1). The amount liable to tax in its assessment would be —
(A) ₹3,70,000
(B) ₹1,20,000
(C) Nil
(D) ₹8,70,000

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax

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