alleryStart learning →Once the section 115BAA option is exercised, what follows?
AIt may withdraw it next year
BIt may withdraw after five years
CIt may withdraw if profits fall
DIt cannot withdraw it for any year
Answer & Solution
Correct answer: D. It cannot withdraw it for any year
The second proviso to section 115BAA(5) bars withdrawal of the option once it has been exercised for any previous year.
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