INTERVIEW QUESTIONS INCOME TAX PRESUMPTIVE TAXATION FOR BUSINESSES DETAILS

Question: In case of a person adopting the provisions of section 44AD, income will be computed on presumptive basis, i.e., @ _________of the turnover or gross receipts of the eligible business for the year.

(a) 2% (b) 5%
(c) 8% (d) 10%

Answer: Correct answer : (c)
Justification of correct answer :
In case of a person adopting the provisions of section 44AD, income will be computed on presumptive basis, i.e., @ 8% of the turnover or gross receipts of the eligible business for the
year.

Thus, option (c) is the correct option.

Correct answer : (c)
Justification of correct answer :
In case of a person adopting the provisions of section 44AD, income will be computed on presumptive basis, i.e., @ 8% of the turnover or gross receipts of the eligible business for the
year.

Thus, option (c) is the correct option. Source: CoolInterview.com

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