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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Presumptive taxation for retail trade permits deemed profits based on turnover and simplified filing for eligible small traders.</h1> Chapter XII-C establishes a presumptive taxation regime under section 115K whereby eligible individuals and HUFs carrying on retail trade, running eating places or engaged in specified vocations compute taxable profit on a deemed basis, subject to prescribed turnover and income ceilings and a verified statement filed by the due date with proof of advance tax. The Chapter prescribes a deemed turnover for calculations, applies to the initial assessment years specified, exempts qualifying persons from filing regular returns under Chapter XIV, limits certain deductions and rebates, and bars other proceedings absent evidence that a statement is untrue.

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