presumptive taxation

This query is : Resolved

shrishail (Querist)
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02 February 2011 Dear Sir/Madam,

I am the mannufacturer of PVC bags. My turnover is below 40 lacs. Please clearify my following querry.

Section:- 44AA Maintenance of Accounts.
44AB Audit of Accounts.
44AF Computing of Profit and
gains i.e. 5% of total
turnover.

Can anybody clearify the applicability of the above section to me.

Thanks in advance

My email is:- shrishail.umaranikar@rediffmail.com.

Regards,
Shrishail.

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Guest (Expert)

02 February 2011 New provisions of presumptive taxation is available for manufactures also for A.Y. 2011-12