Profits and Gains of Business or Profession
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Questions and Answers

Which section of the Income-tax Act, 1961, lists the circumstances when an assessee is compulsorily required to get the books of account audited?

  • Section 44AE
  • Section 44AD
  • Section 44AB (correct)
  • Section 44AA
  • Which section of the Income-tax Act, 1961, contains the presumptive tax provisions for determining whether an assessee engaged in a business, profession, or plying, hiring or leasing goods carriages can opt for such presumptive taxation schemes?

  • Section 44AB
  • Section 44AE
  • Section 44AD (correct)
  • Section 44AA
  • Which section of the Income-tax Act, 1961, relates to the maintenance of books of account and identifies the assessees who are compulsorily required to maintain books of account?

  • Section 44AB
  • Section 44AA (correct)
  • Section 44AE
  • Section 44AD
  • Which section of the Income-tax Act, 1961, contains the presumptive tax provisions for determining whether an assessee engaged in a profession can opt for such presumptive taxation schemes?

    <p>Section 44ADA</p> Signup and view all the answers

    Under which section of the Income-tax Act, 1961, can an assessee engaged in plying, hiring, or leasing goods carriages opt for presumptive taxation schemes?

    <p>Section 44AE</p> Signup and view all the answers

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