Sec 44AF

U/s 44 AF retail trade you cannot claim and deduction except Interest on capital and Partner's remuneration and all other expenses are deemed to be allowed so you cannot claim the depreciation benefits

u/s 44AF 5% of gross income of a retailer is cosidered as deemed income and income from Deposits is treated as IOS and chargeable to this head.

Sir defination of retail trader according to sec 44AF of income tax. Whether  exporter of garments manufacturer avail this 44AF benefit.

i engage in retail business of job work my total turnover approx 32 to 35 lakh. How much tax will be paid on this income.