Shanvi did not have any business income. She opted for rates u/s 115BAC for the AY 2021-22 after exercising the option along with filing the return of income but she failed to satisfy the conditions in the previous year, the option exercised shall become invalid in respect of the assessment year relevant to that previous year and other provisions of this Act shall apply, as if the option had not been exercised for
A. the assessment year 2021-22
B. the subsequent assessment years
C. the assessment year 2021 -22 and the subsequent assessment years
D. None of the above
Answer:A
Shanvi did not have any business income. She opted for rates u/s 115BAC for the AY 2021-22 after exercising the option along with filing the return of income but she failed to satisfy the conditions in the previous year, the option exercised shall become invalid in respect of the assessment year relevant to that previous year and other provisions of this Act shall apply, as if the option had not been exercised for
A. the assessment year 2021-22 B. the subsequent assessment years C. the assessment year 2021 -22 and the subsequent assessment years D. None of the above