X applied for presumptive taxation scheme u/s 44AD( 1) in the year 2018-19,but in the current previous year 2019-20, it claims to have lower income and does not declare profits in accordance with section 44AD(1). Mr. X cannot claim the benefit of the provisions of the section 44AD up…………. to Assessment year:
A. 2023-24
B. 2024-25
C. 2025-26
D. 2026-27
Answer:C
X applied for presumptive taxation scheme u/s 44AD( 1) in the year 2018-19,but in the current previous year 2019-20, it claims to have lower income and does not declare profits in accordance with section 44AD(1). Mr. X cannot claim the benefit of the provisions of the section 44AD up…………. to Assessment year:
A. 2023-24 B. 2024-25 C. 2025-26 D. 2026-27