presumptive basis

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can we file presumptive returns even though last year books where maintained
Replies (3)

yes u can in the case 44 ad 

turnover not more than 2 cr and net profit should be 8%

but one thing ur profit should be justify ur investments and other expense 

if talks of professioanl 50% is the  slab 

but better go with regular return 

with balancesheet and profit and lost a/c 

 

declaring 52% of the income of profession ..so i believe its not a problem..
Then you can go to presumptive taxation... Also you can claim any deductible amount in Cha VI-A...
GOOD LUCK...


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