The Presumptive Tax Scheme has two segments 44AD and 44AE, for business with a turnover less than 2cr.If you do not fall under the scheme, computation of your business income will be as mentioned below:
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SPECIFICS |
Amount |
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turnover of gross income from business |
xxxx |
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Less: the expenses made towards the earning of income
|
- xxxx |
|
taxable business income |
= xxxx |
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Note: Computation can be done in the above-mentioned manner only when the taxpayer has kept a regular book of accounts.
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