Appu Ltd. contributed ₹ 8,70,000 towards provident fund account of its employees. It actually remitted ₹ 5,00,000 up to 31st March and ₹ 2,50,000 up to 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:B
Appu Ltd. contributed ₹ 8,70,000 towards provident fund account of its employees. It actually remitted ₹ 5,00,000 up to 31st March and ₹ 2,50,000 up to 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