Presumptive taxation threshold under section 44AD increased, raising turnover eligibility with effect from April 2011. The Finance Act, 2010 amends the Explanation to the presumptive taxation provision by replacing the lower turnover threshold in clause (b)(ii) with a ... Summary
Presumptive taxation threshold under section 44AD increased, raising turnover eligibility with effect from April 2011.
The Finance Act, 2010 amends the Explanation to the presumptive taxation provision by replacing the lower turnover threshold in clause (b)(ii) with a higher threshold, thereby expanding eligibility for the presumptive scheme; the substitution takes effect from 1 April 2011.
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