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tax on alcohol business
What is the tax treatment for income from business of beverage and liquor?
Replies (1)
Taxable under income head profit and gain from business and profession.
Tax audit applicable if turnover exceeds Rs 1 Cr during the year.
This business is also eligible to presumptive taxation scheme under section 44AD if turnover not exceeds Rs 2 Cr in a F/Y.
Tax audit applicable if turnover exceeds Rs 1 Cr during the year.
This business is also eligible to presumptive taxation scheme under section 44AD if turnover not exceeds Rs 2 Cr in a F/Y.
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