https://www.taxtmi.com/forum/issue?id=115435 A medical practitioner conducts both a professional practice and a trading business and asks whether presumptive taxation under the two distinct schemes may be adopted simultaneously without maintaining books of account. The facts show separate turnovers and profit ratios for the profession and the trading activity and note that nothing in the presented materials restricts a doctor from undertaking trading. The core legal concerns are eligibility of each activity for its respective presumptive regime, interaction of the schemes when claimed concurrently, and the recordkeeping and compliance consequences of electing presumptive taxation. en-us Tue, 17 Sep 2019 21:21:44 +0530 Thu, 23 Jan 2025 15:54:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115435 A medical practitioner conducts both a professional practice and a trading business and asks whether presumptive taxation under the two distinct schemes may be adopted simultaneously without maintaining books of account. The facts show separate turnovers and profit ratios for the profession and the trading activity and note that nothing in the presented materials restricts a doctor from undertaking trading. The core legal concerns are eligibility of each activity for its respective presumptive regime, interaction of the schemes when claimed concurrently, and the recordkeeping and compliance consequences of electing presumptive taxation. Discussion-Forum Income Tax Tue, 17 Sep 2019 21:21:44 +0530 https://www.taxtmi.com/forum/issue?id=115435