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presumptive taxation
no. of deduction available after presumptive taxation to a partnership firm.
Replies (2)
No further deduction would be allowed if a person opt for presumptive taxation basis
persons included RESIDENT
-individual
-HUF
- partnership firm (but not LLPs)
tax rate @ 8% or
6% of total turnover or gross receipt. by a/c payee / bank draft or by using ECS through a bank account
persons included RESIDENT
-individual
-HUF
- partnership firm (but not LLPs)
tax rate @ 8% or
6% of total turnover or gross receipt. by a/c payee / bank draft or by using ECS through a bank account
Deductions under Chapter VI-A under part A and part B will still be allowed.
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