
Dear Professional Seniors & Friends,
Warm Greeting!
Here is the Next post of #MCQ on concept based practical professional knowledge on tax on presumptive basis under Income Tax Act in a unique manner to be self answered by participants. The detailed answer of these MCQs shall be posted next day for the self assessment of the participants.
MCQ 87.1: The presumptive taxation scheme of section 44AD cannot be adopted by __________.
A. Resident Individual
B. Resident HUF
C. Resident Partnership Firm
D. Limited Liability Partnership Firm
MCQ 87.2: In case of a person adopting the provisions of section 44AD, income will be computed on presumptive basis, i.e., @ 6% of the turnover or gross receipts of the eligible business for the year if turnover/gross receipt is received by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account during
A. The previous year
B. Before the due date of filing of return under section 139(1)
C. Any time During the Assessment year
D. Both A & B.
Sincere Regards
CA Sanjay Kumar Agrawal
Mobile: 9810116321
To access MCQ posts regularly, please Join Telegram Channel:
https://t.me/caSanjayKumarAgrawal
For All MCQ post please click on:
Webpage: http://www.casanjay.me/
Facebook: https://www.facebook.com/CA.Sanjay.K.Agrawal/
Linkedin: https://www.linkedin.com/in/ca-sanjay-kumar-agrawal/
Dear Professional Seniors & Friends,
Warm Greetings!
This post of MCQ is on provisions relating to Tax On Presumptive Basis under Income Tax Act.
Answer MCQ 87.1: D) Limited Liability Partnership Firm
Answer MCQ 87.2: D)Both A & B
Practical Analysis for MCQ 87.1 & 87.2
1) Resident Individual
2) Resident Hindu Undivided Family
3) Resident Partnership Firm (not Limited Liability Partnership Firm)
On the Basis of Above Analysis Correct Answer to MCQ 87.1 – D) Limited Liability Partnership Firm and Correct Answer to MCQ 87.2 – D) Both A & B
(Disclaimer: The objective of the MCQ post is just to discuss the concept, it may happen, by change of facts, the answer may be different. Please do not treat this as professional opinion; you can definitely have your own opinion.)
Sincere Regards!
CA Sanjay Kumar Agrawal
Mobile: 9810116321
To access MCQ posts regularly, please Join Telegram Channel:
https://t.me/caSanjayKumarAgrawal
For All MCQ post please click on:
Webpage: http://www.casanjay.me/
Facebook: https://www.facebook.com/CA.Sanjay.K.Agrawal/
Linkedin: https://www.linkedin.com/in/ca-sanjay-kumar-agrawal/
#CASanjay #MrCA #MsCA #MCQ #CharteredAccountants #CharteredAccountant #CA #India #BrandCA #SmartCA
Please Post Your Comments & Reviews