Accounting · Income Tax
As per the provisions specified in the Income Tax Act, 1961, it is compulsory for ______ (without considering the basic exemption limit) to file a return of income or loss for every previous year on or before the due date in the prescribed form.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1an individual
- 2companies and firms✓
- 3a local authority
- 4a Hindu undivided family
Correct answer
companies and firms
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