Presumptive taxation for two different business

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student
80 Points Posted on 28 July 2023
Hi team,
My query:
Assessee is an individual having two different business.
whether he can opt for presumptive taxation for one business and other business under normal provisions of the income tax act??
kindly guide me regarding this..
Thanks in advance...
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On 28 July 2023 at 12:19 Report
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Quick Summary
This discussion clarifies whether an individual can operate two different businesses under separate tax schemes. The consensus is yes, you can opt for presumptive taxation for one business while applying normal tax provisions to the other. This is permissible as long as you adhere to the specific rules governing the presumptive taxation scheme for the chosen business.

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229 Points Posted on 28 July 2023
Yes, you can, for one business you can go under presumptive income & for another normal scheme, Provided you follow provisions of presumptive rules
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On 28 July 2023 at 16:14
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student
80 Points Posted on 28 July 2023
Thank you
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On 28 July 2023 at 16:44
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Profession
28271 Points Posted on 06 August 2023
Presumptive taxation scheme is seperate.
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On 06 August 2023 at 19:55
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"Do the Right Thing...!!!"
128157 Points Posted on 06 August 2023
Query is resolved on 28/07/2023...
Don't hit replies in thanked query based only for points table...
😇😇😇😇😇
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On 06 August 2023 at 20:39

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