State with reasons whether following statements are correct or incorrect: (i) Return of Income of Limited liability Partnership (LLP) could be…

(i) Incorrect - The return of income of LLP should be verified by a designated partner. Any other partner can verify the Return of Income of LLP only in the following cases: (I) where for any unavoidable reason such designated partner is not able to verify the return, or, (II) where there is no designated partner. (ii) Incorrect - In case Mr. Naresh offers his business income as per the presumptive taxation provisions of section 44AD (₹ 11.60 lakhs or more), then, the due date under section 139(1) for filing of return of income for the year ended 31.03.2026, shall be 31st July 2026. In case, Mr. Naresh wants to declare business income lower than ₹ 11.60 lakhs, he has to get his accounts audited under section 44AB, since his turnover exceeds ₹ 1 crore, in which case, the due date for filing return would be 31st October 2026. OR Where a person, who has been allotted PAN and is required to intimate his Aadhaar number, has failed to intimate the same on or before the 31.3.2022, the PAN of such person shall become inoperative. Consequences of failure to intimate Aadhar Number A person, whose PAN has become inoperative, would be liable for further consequences for the period commencing from the date specified by the Board i.e., 1.7.2023 till the date it becomes operative, namely – (i) refund of any amount of tax or part thereof, due under the provisions of the Act shall not be made; (ii) interest shall not be payable on such refund for the period, beginning with the date specified and ending with the date on which it becomes operative; (iii) where tax is deductible at source at a higher rate, in accordance with provisions of section 206AA; (iv) where tax is collectible at source at a higher rate, in accordance with provisions of section 206CC. If Mr. Abhay wants to intimate his Aadhaar number to the prescribed authority on 1.9.2025, he would be liable to pay a fee of ₹ 1,000 as specified under section 234H. His PAN would become operative within 30 days from the date of intimation of Aadhaar number and would not be liable for the above consequences once his PAN becomes operative.