Find income tax paid by X Ltd. for operating activities, based on information given in the following extract of Balance Sheet of X Ltd.

Additional information :

Income Tax paid during the year includes ₹ 15,000 on account of dividend tax.

₹ 65,000

The correct answer is Option (1) - ₹ 65,000.

Previous year provision for tax will be paid in the current year i.e. ₹80000.
This ₹80000 includes ₹15000 dividend tax it will be deducted to calculate the income tax paid = 80000 - 15000
                                                                                                                                      = ₹65000