An assessee who declares his income in accordance with presumptive taxation under Section 44ADA of the Income Tax Act, 1961 for Assessment Year 2023-24 is liable to pay advance tax:

CS Executive · Tax Laws · PYQS · December 2023
An assessee who declares his income in accordance with presumptive taxation under Section 44ADA of the Income Tax Act, 1961 for Assessment Year 2023-24 is liable to pay advance tax:
(A) In four instalments
(B) In two instalments
(C) In one instalment on or before 15th March of the Financial Year
(D) In one instalment on or before 31st March of the Financial Year

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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