Kant is engaged in the business of purchase and sale of pieces of various lands. During the FY 2020-21, he sold pieces of land for ₹ 32 lakh. All these sales were made through cheques and Electronic Clearing System (ECS). The valuation of these pieces of land for stamp duty purposes was ₹ 41 lakh. He wants to pay tax on the income as per section 44AD. The income as per this section for AY 2021-22 shall be:

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Question:Kant is engaged in the business of purchase and sale of pieces of various lands. During the FY 2020-21, he sold pieces of land for ₹ 32 lakh. All these sales were made through cheques and Electronic Clearing System (ECS). The valuation of these pieces of land for stamp duty purposes was ₹ 41 lakh. He wants to pay tax on the income as per section 44AD. The income as per this section for AY 2021-22 shall be:

1. ₹ 2,46,000

2. ₹ 3,28,000

3.₹ 2,56,000

4. ₹ 1,92,000

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  1. Kant is engaged in the business of purchase and sale of pieces of various lands. During the FY 2020-21, he sold pieces of land for ₹ 32 lakh. All these sales were made through cheques and Electronic Clearing System (ECS). The valuation of these pieces of land for stamp duty purposes was ₹ 41 lakh. He wants to pay tax on the income as per section 44AD. The income as per this section for AY 2021-22 shall be:
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