TMI BlogAs per the presumptive taxation scheme of section 44AD, income of a taxpayer will be computed @ 8%/6% of the turnover or gross receipt and from such income can the taxpayer claim any further deductions?X X X X Extracts X X X X X X X X Extracts X X X X ..... come will be computed after allowing deduction in respect of expenses which are deductible as per the Income-tax Act and after disallowing expenses which are not deductible as per the Income-tax Act. In case of a person who is opting for the presumptive taxation scheme of section 44AD , the provisions of allowance/disallowances as provided under the Income-tax Law will not apply and income c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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