presumptive basis

Sahana (student ) (55 Points)

30 September 2017

can we file presumptive returns even though last year books where maintained

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3 Replies

(Guest)

yes u can in the case 44 ad

turnover not more than 2 cr and net profit should be 8%

but one thing ur profit should be justify ur investments and other expense

if talks of professioanl 50% is the slab

but better go with regular return

with balancesheet and profit and lost a/c

Sahana (student ) (55 Points)
Replied 30 September 2017

declaring 52% of the income of profession ..so i believe its not a problem..

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 30 September 2017

Then you can go to presumptive taxation... Also you can claim any deductible amount in Cha VI-A...
GOOD LUCK...

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