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presumptive taxation
I have turnover of R's 2000000.i want to opt for presumptive taxation scheme .further I have received commission of R's 150000 on which tds has been deducted. Can I file income tax return under presumptive taxation and show commission as income from other sources
Replies (2)
No. because your turnover is Not less than 2CR. As 44 AB tac audit is applicable is turnover cross 2Cr
As per section 44ad of it act 1961 , A person having turnover less then ₹2 crores can opt for presumptive basis sceme. but this section is not applicable on commission income. Asyour turnover is less then 2 crores, u can opt for presumptive schem but commission income will be shown separately in return
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