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Deduction in Presumptive Business
Is there any income tax deduction available for Presumptive Taxation Businesses in the New Tax Regime?
Replies (5)
For businesses engaged in non-digital transactions, the presumptive profit rate is 8% of the total turnover or gross receipts. For businesses engaged in digital transactions, the presumptive profit rate is 6% of the total turnover or gross receipts.
Do you mean chapter VI deductions or section 44AD/ADA related deductions ?
No it's not the same deductions under sec 80 C.
80C to 80U deductions are allowed seperately in addition to 44AD/ ADA deductions
No deduction available in new tax regime
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