May 2025

2. The apex body in India for the regulation of the securities market.
4. A form to be filed for filing an income tax return by individuals and HUFs.
7. The process of verifying the accuracy of financial records.
9. The total income of a person before any deductions.
10. A person appointed to manage the affairs of a company.
11. The tax deducted at the source of income.
12. The unique 15-digit identification number assigned to a taxpayer under the GST regime.
13. A return filed under GST providing a summary of all outward supplies, inward supplies, and tax liability.
14. The accounting principle that requires revenues and expenses to be recognized in the period in which they are earned or incurred, regardless of when cash is exchanged.
15. A statement showing the financial position of a company at a specific point in time.
16. A tax levied on the supply of goods and services in India.

1. The decrease in the value of a tangible fixed asset over its useful life.
3. The book of original entry in which transactions are recorded for the first time.
5. The mechanism under GST where the recipient of goods or services is liable to pay tax.
6. An intangible asset representing the good reputation of a business.
8. A legally enforceable agreement between two or more parties.
9. A unified indirect tax that replaced many central and state taxes in India.