Introduction
If you are earning Income as You Tuber or through Google Ad sense or If you are running a business and have turnover of less than ₹ 2 Crore, then this is the plan you can file your Income tax return.
Service Includes
- Business Income of turnover less than ₹ 2 Crore.
- Capital Gains
- Salary Income
- House Property Income
- Other source Income
- Exclude Preparation of Balance Sheet and Profit & Loss account
- Exclude Audit fee
- Expert Assisted Tax Filing
- Business Hours CA Support – Email, Phone or Whatsapp
Required Documents
- PAN
- Aadhar
- Bank Account Statement
- Form 16
- Form 26AS
- Home Loan Interest Certificate, if applicable
- Any Other Documents/Details as needed.
Frequently ask questions
Presumptive taxation can applies to any business whose Sales Value is less than Rs. 2 Crores per annum.
Businesses having annual turnover under Rs. 2cr and declaring income above 8%(no audit)
Any other person having casual income.
Section 44AD is only applicable for
- Individuals i.e. Proprietor/ Proprietorship Firm
- Hindu Undivided Family (HUF)
- Partnership Firm
not applicable for any form of entity like Company, LLP etc
only applicable for Resident Indians and not for Non-Resident Indians (NRI’s).
Section 44AD is not applicable to:
Any person who is carrying on any business as an agent.
Any person who is earning Income in the nature of Commission or Brokerage
Insurance Agents cannot adopt the Presumptive Taxation Scheme as they earn Income from Commission.
You cannot claim separate deduction for expenses.
Separate deduction on account of depreciation is also not available.. Even the Salary/Remuneration/ Interest paid to Partners will not be allowed as a deduction
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