Comment on Taxation for Traders - Introduction

Thanks for the explanations on all my questions.

I fully agree with your view point about presenting facts. I was not comfortable taking the 8% route, at all. Last year my profits were > 8% (I calculated now!) and (perhaps) hence my ITR4 passed the test without Audit. I prepared my ITR4 this year too. Thankfully before submitting I came across this blog.

Thanks also for clarification on Penalty amount. Although our point of view is same on penalties etc. it is important to know what are we looking at, lest someone starts selling fear.

I will try to find some CA who knows what this is all about and perhaps is willing to go the extra step.

Thanks,
Warm regards,

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