Presumptive tax individual
This query is : Resolved
27 February 2025
What are the conditions to be followed by a presumptive tax payer, i have received Rs. 15 lakh in my bank account as part of an occasional business transaction by google pay, in this case is it possible to file my return of income opting presumptive taxuation. Moreover i have normally salary income
27 February 2025
For what service/goods you have received the amount?
Is it single payment or aggregated?
Is it single payment or aggregated?
27 February 2025
Not single payment, receipt from various person
27 February 2025
Are you trader or any service provider?
27 February 2025
Right now the receipt is from restaurant, street stall
27 February 2025
Ok You can declare the income under presumptive assessment u/s. 44AD IT act
27 February 2025
file return under 44AD
27 February 2025
the salary income will be taxed under normal provisions. Please make sure that your employment contract does not bar you from conducting business outside the employment.
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