F&O Business
Pints (article) (34 Points)
05 March 2019
Can we apply provisions of presumptive taxation (8%) in case of F&O business????
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193731 Points)
Replied 05 March 2019
Yes..... Minimum profit to be declared is 6%.
Priya Kashyap
(Student)
(7053 Points)
Replied 05 March 2019
The small trader can disclose his income at any level above 6% of turnover. Earlier, the minimum required to be disclosed was 8% but this was reduced to 6% from 2016-17 onwards
SHIVANI KUDTARKAR
(512 Points)
Replied 05 March 2019
6% only if all the gross receipts are recd by account payee cheque or draft or by electronic mode...otherwise 8%
PUSHP KUMAR SAHU
(CA FINAL ASPIRANT)
(3115 Points)
Replied 07 March 2019
yes , you can...but minimum profit to be declared is 6%
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