https://www.taxtmi.com/article/detailed?id=16668 Compulsory tax audit under presumptive taxation arises when an assessee declares income below the prescribed presumptive profit and total income exceeds the basic exemption limit. The commentary examines whether this consequence applies universally to all taxpayers covered by the presumptive scheme or only to specified business and profession categories. One reading treats the lower-profit rule as covering every assessee in the presumptive table, thereby widening the audit net for small traders, freelancers, transport operators and other businesses that declare actual profits below the deemed percentage. en-us Tue, 16 Jun 2026 08:34:19 +0530 Tue, 16 Jun 2026 08:34:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16668 Compulsory tax audit under presumptive taxation arises when an assessee declares income below the prescribed presumptive profit and total income exceeds the basic exemption limit. The commentary examines whether this consequence applies universally to all taxpayers covered by the presumptive scheme or only to specified business and profession categories. One reading treats the lower-profit rule as covering every assessee in the presumptive table, thereby widening the audit net for small traders, freelancers, transport operators and other businesses that declare actual profits below the deemed percentage. Articles Income Tax Tue, 16 Jun 2026 08:34:19 +0530 https://www.taxtmi.com/article/detailed?id=16668