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tax on alcohol business

Poonam Lohiya (158 Points)

06 October 2018

What is the tax treatment for income from business of beverage and liquor?

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CA Sunil Kumar (Chartered Accountant) (4524 Points)
Replied 06 October 2018

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.

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