https://www.taxtmi.com/forum/issue?id=1219 Under the presumptive taxation scheme an assessee may claim profits lower than the deemed rate only if the assessee keeps and maintains the required books of account and obtains and furnishes an audit report; compliance with these bookkeeping and audit conditions is the operative basis for recognising actual expenses and computing lower taxable profits instead of the deemed presumptive income. en-us Thu, 28 May 2009 12:02:03 +0530 Thu, 23 Jan 2025 15:58:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1219 Under the presumptive taxation scheme an assessee may claim profits lower than the deemed rate only if the assessee keeps and maintains the required books of account and obtains and furnishes an audit report; compliance with these bookkeeping and audit conditions is the operative basis for recognising actual expenses and computing lower taxable profits instead of the deemed presumptive income. Discussion-Forum Income Tax Thu, 28 May 2009 12:02:03 +0530 https://www.taxtmi.com/forum/issue?id=1219