44ad taxable income

Sandeep Sharma (Accounts executive) (552 Points)

31 August 2019  
If a firm's turnover is 1.5 crore and have opted for presumptive scheme. His annual profit as is 40 lakh which is above 8% conditional income. So what would be the income tax on this profit if there is no tax deduction is claimed??

Plz reply sir, it's urgent!