https://www.taxtmi.com/acts?id=10532 The Bill inserts a provision making the retail presumptive computation inapplicable to assessment years beginning on or after 1 April 2011, withdrawing the existing rule that estimates retail income at five per cent of turnover (or a higher declared sum). This change follows substitution of the general presumptive provision and is stated to operate retrospectively from 1 April 2009. en-us Tue, 07 Jul 2009 15:49:22 +0530 Tue, 07 Jul 2009 15:49:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10532 The Bill inserts a provision making the retail presumptive computation inapplicable to assessment years beginning on or after 1 April 2011, withdrawing the existing rule that estimates retail income at five per cent of turnover (or a higher declared sum). This change follows substitution of the general presumptive provision and is stated to operate retrospectively from 1 April 2009. Act-Rules Bills Tue, 07 Jul 2009 15:49:22 +0530 https://www.taxtmi.com/acts?id=10532