44 AD TURNOVER (CASH)

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The Presumptive Scheme has introduced a new 'Turnover (Cash)' column for clarity. Previously, turnover was broadly categorised into 'other mode' (digital) and 'banking channel'. Now, 'Turnover (Cash)' specifically refers to cash transactions, while 'Turnover (other mode)' covers digital transactions. This change aims to provide a clearer distinction for calculating presumptive income, with different profit margins applied to cash versus non-cash (banking/digital) turnover.

Javed Memon

Javed Memon (Querist)

23 July 2024 In Presumptive Scheme the new Column TURNOVER (CASH) added
so whats the Differance between Turnover (Cash) and Turnover (other Mode) ??

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

23 July 2024 Turnover (other mode).... means turnover which is not in cash mode...
i.e. turnover digital mode..

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Javed Memon

Javed Memon (Querist)

23 July 2024 But Turnover (Banking Channel) column also there , up to A.Y. 2023-24 only 2 column that is Turnover (other mode )and turnover (Banking Channel) from A.Y. 2024-25 they added turnover (Cash Mode)

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

23 July 2024 There it was indicative other than banking mode.
Now from this they have bifurcated again for more clarity.
Turnover by cash.... for minimum 8% or more profit...
Other two... banking mode & digital mode (i.e. Other mode) for minimum 6% or above profit

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Javed Memon

Javed Memon (Querist)

24 July 2024 Thanks a lot sir for clarify

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

24 July 2024 You are welcome

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