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Presumptive taxation u/s 44ad

Hemant D (na) (303 Points)

10 April 2017  
A is into a derivatives activity through a recognised stock exchange. he has earned net profit after considering brokerage and incidental expenses applicable thereto. can this net profit be considered as his presumptive income and tax paid accordingly @ 8% on the net profit?

 1 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (109022 Points)
Replied 10 April 2017

" Can this net profit be considered as his presumptive income and tax paid accordingly @ 8% on the net profit?"

For derivatives as Non-speculative business, the net profit under presumptive method will be 8% of your Turn-over. There is specific method to calculate TO.

Tax over the said profit will be as per slab.


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