https://www.taxtmi.com/acts?id=48035 Chapter XII-C establishes a presumptive taxation regime under section 115K whereby eligible individuals and HUFs carrying on retail trade, running eating places or engaged in specified vocations compute taxable profit on a deemed basis, subject to prescribed turnover and income ceilings and a verified statement filed by the due date with proof of advance tax. The Chapter prescribes a deemed turnover for calculations, applies to the initial assessment years specified, exempts qualifying persons from filing regular returns under Chapter XIV, limits certain deductions and rebates, and bars other proceedings absent evidence that a statement is untrue. en-us Tue, 28 Jan 2025 13:04:29 +0530 Sat, 21 Jun 2025 14:00:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48035 Chapter XII-C establishes a presumptive taxation regime under section 115K whereby eligible individuals and HUFs carrying on retail trade, running eating places or engaged in specified vocations compute taxable profit on a deemed basis, subject to prescribed turnover and income ceilings and a verified statement filed by the due date with proof of advance tax. The Chapter prescribes a deemed turnover for calculations, applies to the initial assessment years specified, exempts qualifying persons from filing regular returns under Chapter XIV, limits certain deductions and rebates, and bars other proceedings absent evidence that a statement is untrue. Act-Rules F. Acts / Amendment Acts Tue, 28 Jan 2025 13:04:29 +0530 https://www.taxtmi.com/acts?id=48035