https://www.taxtmi.com/acts?id=21150 Amendment tightens the presumptive taxation regime by suspending entitlement to presumptive provisions for five assessment years where an eligible assessee fails to declare profit under the scheme for any of the five assessment years following the relevant previous year, and requires such suspended assessees whose total income exceeds the maximum non taxable amount to maintain books, obtain a statutory audit and furnish an audit report; the turnover threshold in the explanatory clause is also increased. en-us Fri, 06 May 2016 16:28:49 +0530 Fri, 06 May 2016 16:28:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=21150 Amendment tightens the presumptive taxation regime by suspending entitlement to presumptive provisions for five assessment years where an eligible assessee fails to declare profit under the scheme for any of the five assessment years following the relevant previous year, and requires such suspended assessees whose total income exceeds the maximum non taxable amount to maintain books, obtain a statutory audit and furnish an audit report; the turnover threshold in the explanatory clause is also increased. Act-Rules F. Acts / Amendment Acts Fri, 06 May 2016 16:28:49 +0530 https://www.taxtmi.com/acts?id=21150