Dr. Ravi practicing medicine has gross receipt of ₹ 18,40,000 for the financial year 2019-20. His presumptive income under Section 44ADA would be:
A. ₹ 1,47,200 @8%
B. ₹ 92,000 @ 5%
C. ₹ 9,20,000 @ 50%
D. ₹ 4,60,000 @ 25%
Answer:C
Dr. Ravi practicing medicine has gross receipt of ₹ 18,40,000 for the financial year 2019-20. His presumptive income under Section 44ADA would be:
A. ₹ 1,47,200 @8% B. ₹ 92,000 @ 5% C. ₹ 9,20,000 @ 50% D. ₹ 4,60,000 @ 25%