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 ?
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..
In that case TAR is mandatory....
CAclubindia
