Zing Zang is an individual, manufacturing a product. He has a turnover of ₹ 98,50,000 which is inclusive of the amount of ₹ 25 lakh received through the electronic clearing system. The accounts are not properly maintained and you have advised him to pay tax u/s 44AD of the Act. On how much income he will pay tax for AY 2021-22?

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Question:Zing Zang is an individual, manufacturing a product. He has a turnover of ₹ 98,50,000 which is inclusive of the amount of ₹ 25 lakh received through the electronic clearing system. The accounts are not properly maintained and you have advised him to pay tax u/s 44AD of the Act. On how much income he will pay tax for AY 2021-22?

1. ₹ 7,88,000

2. ₹ 7,38,000

3. Manufacturers not allowed u/s 44AD

4.₹ 5,91,000

Posted by R4R Team
  1. Zing Zang is an individual, manufacturing a product. He has a turnover of ₹ 98,50,000 which is inclusive of the amount of ₹ 25 lakh received through the electronic clearing system. The accounts are not properly maintained and you have advised him to pay tax u/s 44AD of the Act. On how much income he will pay tax for AY 2021-22?
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