Dave & Co. made a turnover of ₹160 lakh during the financial year 2022-23. It received ₹90 lakh by way of RTGS and net banking. The balance of sale proceeds was realized in cash before 31st March, 2023. Dave & Co
CS Executive · Tax Laws · PYQS · June 2023
Dave & Co. made a turnover of ₹160 lakh during the financial year 2022-23. It received ₹90 lakh by way of RTGS and net banking. The balance of sale proceeds was realized in cash before 31st March, 2023. Dave & Co. wants to admit income under section 44AD of the Income Tax Act, 1961. How much is the presumptive income of Dave and Co. for the assessment year 2022-23?
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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