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Taxation

Quick practice

Question 1 of 5

Which of the following individuals would be entitled to opt for presumptive taxation schemes under the Income- tax Act, 1961 for A.Y.2021-22?

  1. A retail trader having turnover of Rs. 2 crore during the previous year 2020-21
  2. A practicing CA having gross receipts of Rs. 92 lakhs during the PY 2020-21.
  3. A person having agency business & having turnover of Rs. 1.96 crore during the previous year 2020-21
  4. A doctor having gross receipts of Rs. 50 lakhs during the previous year 2020-21.
  5. Individual owning 8 goods carriages as on 1.4.2020. He sold 2 goods carriages on 1.5.2020 and purchased 4 goods carriages on 1.7.2020
A

(iii) & (v)

B

Only (iii)

C

(i), (iii), (iv) & (v)

D

(i), (iv) & (v)

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