presumptive taxation.
This query is : Resolved
21 November 2008
COULD NEBODY EXPLAIN ME THE TERM "RETAIL BUSINESS" IN THE CONTEXT OF SEC 44AF. DOES SEC 44AF APPLY TO A GOLDSMITH,SPARE PART SHOP OWNER?
22 November 2008
if you are selling the good to customers who are used the goods for there personal used not fopr resales then it is called retailors & your turnover is less then rs 40 lakhs so in your question goldsmith sparepart shop are sold the goods to the customers then you are show a net profit @5%
07 November 2021
Yes. all the grain shops, spare part shops etc are termed as retailers.
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