https://www.taxtmi.com/manuals?id=4095 Presumptive taxation carries a binding five year adherence obligation; opting out in any subsequent year renders the assessee ineligible for the presumptive regime for the next five assessment years. From the assessment year of exit the assessee must keep and maintain books of account and, if total income exceeds the basic exemption limit, is subject to the statutory tax audit obligation. en-us Mon, 25 Dec 2023 10:52:00 +0530 Wed, 10 Jan 2024 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4095 Presumptive taxation carries a binding five year adherence obligation; opting out in any subsequent year renders the assessee ineligible for the presumptive regime for the next five assessment years. From the assessment year of exit the assessee must keep and maintain books of account and, if total income exceeds the basic exemption limit, is subject to the statutory tax audit obligation. Manuals Income Tax Mon, 25 Dec 2023 10:52:00 +0530 https://www.taxtmi.com/manuals?id=4095