Hi,
Software consultancy is the main source of income , Turnover is almost 1.5Crores for current FY.
Can we opt for presumptive Taxation ?
Is it mandatory to go for tax audit if we declare 50% profits and pay tax ?
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Tax Audit Limit vs Presumptive Taxation for Professionals
Replies (4)
Main source of income !!
Either segregate business & consultancy (professional) turnovers to arrive at better option; or file ITR with tax audit report for total TO as professional receipts...
Good Luck..
Professional income is the only source of Income
In that case TAR is mandatory....
To what extent of turnover presumptive Taxation is applicable to professionals ?
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