TaxTMI 
TaxTMI 
Can a professional having Gross receipts less than Rs 15 Lakhs show his income on presumptive basis?
Presumptive taxation
16 Nov 2012 
4 Replies 
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Presumptive taxation excludes specified professions, preventing those professionals from opting into the presumptive tax scheme.
Presumptive taxation excludes persons carrying on specified professions, persons earning commission or brokerage, and persons carrying on agency businesses; notified professions (including company secretaries, information technology professionals, authorised representatives and various film artists) are treated as excluded, requiring maintenance of books and computation of income under the normal provisions rather than the presumptive scheme. (AI Summary)
Presumptive taxation excludes persons carrying on specified professions, persons earning commission or brokerage, and persons carrying on agency businesses; notified professions (including company secretaries, information technology professionals, authorised representatives and various film artists) are treated as excluded, requiring maintenance of books and computation of income under the normal provisions rather than the presumptive scheme. (AI Summary)