INTERVIEW QUESTIONS INCOME TAX PRESUMPTIVE TAXATION FOR BUSINESSES DETAILS

Question: The presumptive taxation scheme of section 44ADA is designed to give relief to small taxpayers engaged in any profession.
(a) True (b) False

Answer: Correct answer: (b)
Justification of correct answer:
The presumptive taxation scheme of section 44ADA is designed to give relief to small taxpayers engaged in specified profession (i.e., legal, medical, engineering or architectural, accountancy, technical consultancy, interior decoration or any other profession as notified by CBDT).

Thus, the statement given in the question is false and hence, option (b) is the correct option.

Correct answer: (b)
Justification of correct answer:
The presumptive taxation scheme of section 44ADA is designed to give relief to small taxpayers engaged in specified profession (i.e., legal, medical, engineering or architectural, accountancy, technical consultancy, interior decoration or any other profession as notified by CBDT).

Thus, the statement given in the question is false and hence, option (b) is the correct option. Source: CoolInterview.com

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