An individual owning 8 goods carriages as on 1.4.2020. He sold 2 goods carriages on 1.5.2020 and purchased 4 goods carriages on 1.7.2020. Can he opt for presumptive taxation?
2 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 05 May 2021
Yesterday individual can opt for presumptive taxation provided that the carriage must be less than 10
Lotus Agrawal
(Practice)
(1361 Points)
Replied 05 May 2021
Yes provided total number of goods carriage shall not exceed 10 at any time during the year.
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