https://www.taxtmi.com/acts?id=48225 Amendment to section 115K replaces the percentage-based measure with a fixed presumptive amount and raises the referenced presumptive rate, extends the provision to include income from operating, hiring or leasing goods carriages, motor cabs, maxi cabs and three-wheeled motor vehicles, omits the former sub-section providing the specified computation, adds a transitional filing proviso for persons in the vehicle hiring/leasing business to submit the relevant previous year statement by the prescribed deadline, and substitutes the Explanation to adopt Motor Vehicles Act definitions and broaden the meaning of "vocation." en-us Wed, 29 Jan 2025 12:28:29 +0530 Wed, 29 Jan 2025 12:28:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48225 Amendment to section 115K replaces the percentage-based measure with a fixed presumptive amount and raises the referenced presumptive rate, extends the provision to include income from operating, hiring or leasing goods carriages, motor cabs, maxi cabs and three-wheeled motor vehicles, omits the former sub-section providing the specified computation, adds a transitional filing proviso for persons in the vehicle hiring/leasing business to submit the relevant previous year statement by the prescribed deadline, and substitutes the Explanation to adopt Motor Vehicles Act definitions and broaden the meaning of "vocation." Act-Rules F. Acts / Amendment Acts Wed, 29 Jan 2025 12:28:29 +0530 https://www.taxtmi.com/acts?id=48225