I am salaried person doing small cab business. Is it good to separate income from cab using current account will there be any tax benefit.I heared of some small business tax exemption up to 10 Lakhs.
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(185456 Points)
Replied 19 June 2017
Yes, under service tax there is 10 lakhs exemption limit for Small Scale Service Provider, which will be increased to 20 lakhs under GST with certain conditions.................but no extra benefit under income tax !!!
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