August 2025

4. The head of income that covers rental income from property.
5. A depreciation method providing for a higher depreciation charge in the early years of an asset's life.
7. A report by a company's board on its performance and social responsibilities.
8. The accounting convention of anticipating all possible losses but not prospective profits.
9. The act of bringing forward losses from a prior period to reduce current taxable income.
13. A return filed to correct an omission or wrong statement made in the original tax return.
15. The state in which a company is unable to pay its debts.
16. A financial statement showing a company's revenues and expenses over a period.
17. A scheme under GST for small taxpayers with simplified compliance requirements.
19. The code used to classify services under the GST law.

1. A bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand.
2. A type of share that carries preferential rights regarding dividend payment and capital repayment.
3. The year immediately preceding the assessment year, in which income is earned.
6. A company owned and controlled by another company, known as the parent company.
10. The tax levied by a state government on the intra-state supply of goods and services.
11. The minimum paid-up share capital requirement for this type of company is nil.
12. An appropriation of profit for a specific purpose, creating a known liability.
14. A detailed examination of a taxpayer's return by the Income Tax department.
18. The legal framework that consolidates laws relating to insolvency of corporations.