The provision of Presumptive taxation under Section 44AD shall be applicable where the total turnover of Gross Receipts does not exceed:
CS Executive · Tax Laws · PYQS · December 2024
The provision of Presumptive taxation under Section 44AD shall be applicable where the total turnover of Gross Receipts does not exceed:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B), (C). Official source note: Option B is correct. Further, Option C may also be considered as correct if the receipts in cash is not exceeding 5% of the Gross receipt. Then in such case the limit for the applicability of section 44AD is ₹ 3 crore (total turnover / gross receipt.).
Topics: Income Tax Act
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