If a person adopts the presumptive taxation scheme but he opts out from the scheme in any of the subsequent five years, then what are the consequences?

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....ncome Tax - Frequently Asked Questions (FAQs)<br>Income Tax<br>Ans. If a person opts for presumptive taxation scheme then he is also require to follow the same scheme for next 5 years. If he failed to....

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....benefit of presumptive taxation scheme for next five AYs, i.e. from AY 2023-24 to 2027-28&#8203;.] He is required to keep and maintain books of account and he is also liable for tax audit as per sect....