9911796707
TMI BlogInsertion of new chapter XIICX X X X Extracts X X X X X X X X Extracts X X X X ..... omputation of income in certain cases. - (1) Notwithstanding anything contained in any other provision of this Act relating to the computation of income chargeable under the head "Profits and gains of business or profession", in the case any person, to whom this section applies, carrying on - (a) the business of retail trade in any goods or merchandise and who submits a statement in ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lause (a) of sub-section (1), his turnover from the business of retail trade during the relevant previous year does not exceed five lakh rupees and his income from such business during that year does not exceed thirty-five thousand rupees; (ii) clause (b) of sub-section (1), his income from the business of running the eating place or from the vocation during the relevant previous year does not e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion and a declaration by him that, - (i) where he is carrying on the business of retail trade, his turnover from such trade during the relevant previous year does not exceed five lakh rupees and his income from such trade during that year does not exceed thirty-five thousand rupees; (ii) where he is carrying on the business of running the eating place or is engaged in the vocation, his income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... For the purposes of this section, "vocation" includes tailoring, hair-cutting, clothes' washing, typing, photo-copying, repair work of any kind and other services of a similar nature. 115L. Return for income not to be filed in certain cases. - Subject to the provisions of section 115N, a person who has submitted a statement under sub-section (1) of section 115K shall not be require ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
