Question : Evian Ltd. has a balance in Provision for Tax Account of Rs. 50,000 and Rs. 75,000 as on 31st March, 2019 and 2020 respectively. It made a provision for tax during the year of Rs. 65,000. The amount of tax paid during the year ______-.
Option 1: Rs 65,000
Option 2: Rs 40,000
Option 3: Rs 25,000
Option 4: None of the above
Correct Answer: Rs 40,000
Solution : Answer = Rs 40,000
Hence, the correct option is 2.
Question : Exe Ltd. has a balance in Provision for Tax Account of Rs.50,000 and Rs.75,000 as of 31st March, 2021 and 2022 respectively. It made a provision for tax during the year of Rs.65,000. The amount of tax paid during the year was
Question : Raj Kundra Cricket Club was inaugurated on 1st April, 2019. It had the following Receipts and Payments during the year ended 31st March 2020.
Opening balance of cash Rs 20,000 (overdraft).
Receipts: Admission fees Rs 20,000,
Question : During the year ending on 31st March 2017 — 15%, What should be the minimum investment or deposit by Universal Ltd. to meet the requirement of law, if it realises or increases proportionate investment?
Question : On 1st April, 2018 X Ltd. issued 20,000, 10% Debentures of Rs.100 each at a discount of 5% redeemable at a premium of 4% after 5 years. It decided to write off loss on issue of debentures in the year ended 31st March, 2019. It has the following balances : Capital
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