alleryStart learning →A 115BA company that opts for 115BAA may do what with its 115BA option?
AWithdraw the 115BA option
BKeep it for ten years
CConvert it to 115BAB
DSuspend it for 3 years
Answer & Solution
Correct answer: A. Withdraw the 115BA option
The further proviso to 115BA(4) lets the option under that section be withdrawn when the company exercises option under 115BAA.
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?