09 October 2024
my turnover is Rs 21075130 no need to maintain books of accounts since my receipts is not exceeding 5% of cash critiria. my taxable total income after paying interest on capital and remuneration is Rs 1466540 tax will be 30% on this and cess will be 4% But when i input data in form 5 it is calculating surcharge how to avoid the same since surcharge is applicable if my taxable income exceeds 1cr. could not understand what is the problem kindly advise. can i declare profit under presumptive taxation to avoid this surcharge
CAclubindia
