Presumptive taxation - without gross turnover
This query is : Resolved
Shagun Borgaonkar
(Querist)
01 May 2015
If firm is eligible for scheme available under Sec 44AD (Presumptive Taxation), however business is just started and there is literary no turnover whatsoever. (referring Sec 44AD (1) and sec 44AD (5) )
How to comply with provisions of Presumptive taxation ?
Your response/opinions eagerly awaited.
How to comply with provisions of Presumptive taxation ?
Your response/opinions eagerly awaited.
CA R SEETHARAMAN
(Expert)
01 May 2015
If there is no turnover no need to comply with the provisions. You have to file nil return if it is a partnership firm.
Rupesh Jain
(Expert)
01 May 2015
if your firm have no turnover then this section not applicable.
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