https://www.taxtmi.com/acts?id=11076 Income from specified businesses is determined on a presumptive basis by applying fixed rates or percentages to defined bases (monthly amounts per vehicle, percentage of turnover, or percentage of receipts/payments for non-resident/foreign engagements), subject to eligibility conditions such as ownership thresholds, residency status and project approvals; the presumptive amount is treated as inclusive of all losses, allowances and deductions, with written down value and common cost allocation treated as if depreciation claims were allowed, and actual excess income over the presumptive amount must be added. en-us Thu, 20 Aug 2009 15:39:04 +0530 Thu, 29 Oct 2009 21:24:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11076 Income from specified businesses is determined on a presumptive basis by applying fixed rates or percentages to defined bases (monthly amounts per vehicle, percentage of turnover, or percentage of receipts/payments for non-resident/foreign engagements), subject to eligibility conditions such as ownership thresholds, residency status and project approvals; the presumptive amount is treated as inclusive of all losses, allowances and deductions, with written down value and common cost allocation treated as if depreciation claims were allowed, and actual excess income over the presumptive amount must be added. Act-Rules Bills Thu, 20 Aug 2009 15:39:04 +0530 https://www.taxtmi.com/acts?id=11076