The 'Tax Audit' under Section 44AB is required for a professional if gross receipts exceed: MCQ with Answer and Explanation

Which of the following is/are correct regarding the accounting equation? 1. The equation always holds true under the double entry system. 2. Purchase of goods on credit increases assets and liabilities. 3. Payment to creditors decreases assets and increases liabilities. 4. Introduction of capital by the proprietor increases both assets and capital.

The 'Income Tax Return' form for individuals having salary and one house property is:

The 'Lease Liability' under Ind AS 116 is measured at: