alleryStart learning →By when must the section 115BAA option be exercised?
AEnd of the previous year
BBefore payment of advance tax
COn or before the return due date
DWithin 90 days of assessment
Answer & Solution
Correct answer: C. On or before the return due date
The option has to be exercised in the prescribed manner by the due date for furnishing the return under section 139(1).
Keep practising Special Tax Regimes for Companies
Browse all Special Tax Regimes for Companies questions for CA Final, or explore more Taxation topics.
Related questions
What do tax havens do, in the context of tax avoidance?Bilateral double taxation treaties aim to avoid what outcome?A General Anti-Avoidance Rule is aimed at which behaviour?Tax avoidance differs from tax evasion in that avoidance is what?Which companies can opt for section 115BAA?From which assessment year does section 115BAA apply?Under 115BAA, how is loss from barred deductions treated later?What depreciation can a 115BAA company not claim under section 32?