Comment on Taxation Simplified

Nithin Kamath commented on 31 May 2013, 01:28 PM

Vinny,

It is not a common practice in the business of trading to declare presumptive business income at 8% of turnover/gross receipts. I will have to take a further opinion on this.

The best option would be to calculate actual business income and file ITR4. Also add your other income and get benefit of respective deductions.

Cheers,

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