5 Questions
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 44AB
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 44AD
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 44AA
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?
Section 44ADA
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?
Section 44AE
Test your knowledge on the tax implications of profits and gains from business or profession. Assess your understanding of income computation and disclosure standards (ICDSs) and the provisions of section 28.
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