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Deepthinker   24 June 2021

Presumptive Taxation General

If Turnover is less than 1 Cr then presumptive Taxation is mandatory ??
And if yes then by doing audit we can declare income less than presumptive Taxation income???


 1 Replies

CMA Poornima Madhava

CMA Poornima Madhava (CMA)     24 June 2021

1) Presumptive taxation scheme is not mandatory.

2) If opted, you may show less than minimum profit if books are audited.

 

 


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