30 May 2018
As i am trading on snapdeal (E-commerce) , There is policy that snapdeal, after deducting their commission, remaining amount of sales pays to me. Suppose, I sell my product of Rs. 1000/- (Invoice Value Rs. 1000/-), Snapdeal, after deducting their commission say 30% (Rs.300/-), pay remaining amount Rs.700/- to me through NEFT.
This Rs. 1000/- Transaction may be of cash on delivery or Non cash on delivery (i.e. online payment).
Now Filling IT Return, Can I claim 6% presumptive profit of gross turnover? or I have to declare 8% profit?