Question

    What is the increased turnover limit under section 44AD for

    businesses in the new Income Tax Bill?
    A ₹1 crore Correct Answer Incorrect Answer
    B ₹2 crore Correct Answer Incorrect Answer
    C ₹3 crore Correct Answer Incorrect Answer
    D ₹5 crore Correct Answer Incorrect Answer
    E ₹10 crore Correct Answer Incorrect Answer

    Solution

    The new Income Tax Bill increased the presumptive taxation limit under section 44AD from ₹2 crore to ₹3 crore for businesses and from ₹50 lakh to ₹75 lakh for professionals, streamlining tax compliance.

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