Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Income-tax and Corporate Tax Planning Income-tax
Given below are two statements: One is labelled as Assertion A and the other is labelled as Reason R.
Assertion A : ITR - 1 can be used by an individual whose total income does not exceed Rs. 1 Crore.
Reason R : ITR - 1 cannot be used by an individual who is a director in a company.
In the light of the above statements, choose the most appropriate answer from the options given below:
1
Both A and R are correct and R is the correct explanation of A
2
Both A and R are correct but R is NOT the correct explanation of A
3
A is correct but R is not correct
4
A is not correct but R is correct