Presumptive tax individual

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SHYAM KRISHNAN K (Querist)
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27 February 2025 What are the conditions to be followed by a presumptive tax payer, i have received Rs. 15 lakh in my bank account as part of an occasional business transaction by google pay, in this case is it possible to file my return of income opting presumptive taxuation. Moreover i have normally salary income

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 February 2025 For what service/goods you have received the amount?
Is it single payment or aggregated?

SHYAM KRISHNAN K

SHYAM KRISHNAN K (Querist)
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27 February 2025 Not single payment, receipt from various person

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 February 2025 Are you trader or any service provider?

SHYAM KRISHNAN K

SHYAM KRISHNAN K (Querist)
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27 February 2025 Right now the receipt is from restaurant, street stall

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 February 2025 Ok You can declare the income under presumptive assessment u/s. 44AD IT act

Nikhil Kaushik

Nikhil Kaushik (Expert)
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27 February 2025 file return under 44AD

Nikhil Kaushik

Nikhil Kaushik (Expert)
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27 February 2025 the salary income will be taxed under normal provisions. Please make sure that your employment contract does not bar you from conducting business outside the employment.

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