https://www.taxtmi.com/circulars?id=9954 An optional presumptive taxation scheme permits eligible individuals and HUFs in retail trade, eating houses, or defined vocations to pay tax on a deemed income basis using a prescribed statement-cum-challan filed and paid at designated banks, obviating regular return filing and assessment procedures. The scheme limits eligibility by prior non-assessment, turnover and other-source income caps, restricts allowable deductions, defines included vocations and excludes professionals, sets bank receipting and data transmission protocols, provides that survey teams will not inquire further where tax is paid under the scheme, and permits reopening only on concrete evidence of misuse. en-us Wed, 26 Aug 1992 00:00:00 +0530 Thu, 09 Jun 2011 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9954 An optional presumptive taxation scheme permits eligible individuals and HUFs in retail trade, eating houses, or defined vocations to pay tax on a deemed income basis using a prescribed statement-cum-challan filed and paid at designated banks, obviating regular return filing and assessment procedures. The scheme limits eligibility by prior non-assessment, turnover and other-source income caps, restricts allowable deductions, defines included vocations and excludes professionals, sets bank receipting and data transmission protocols, provides that survey teams will not inquire further where tax is paid under the scheme, and permits reopening only on concrete evidence of misuse. Circulars Income Tax Wed, 26 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9954