management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within their organizations, which aids their management and performance of control functions. Objective of management accounting is to use this statistical data and take a better and accurate decision, controlling the enterprise, business activities, and development.
It is mandatory for all individuals to file Income Tax Return (ITR) where his total income exceeds the maximum amount that is not chargeable to Tax ie, if it exceeds Rs.2,50,000 in the FY 2018-19. This limit is Rs 3,00,000 for senior citizens ( who are more than 60 years old but less than 80 years old) and Rs 5,00,000 for super senior citizens (who are more than 80 years old). In the case of partnership firms, return needs to be filed even if there is no taxable income. Due date of filing income tax return for the FY 2018-19(AY 2019-20) is 31st July 2019 for individuals and firms who are not subject to audit under section 44AB of the IT Act
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