TaxTMI 
TaxTMI 
Insertion of new chapter XIIC
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....5K. Special provision for computation of income in certain cases. - (1) Notwithstanding anything contained in any other provision of this Act relating to the computation of income chargeable under the head "Profits and gains of business or profession", in the case any person, to whom this section applies, carrying on - (a) the business of retail trade in any goods or merchandise and who s....
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.... (b) in the case of person referred to in - (i) clause (a) of sub-section (1), his turnover from the business of retail trade during the relevant previous year does not exceed five lakh rupees and his income from such business during that year does not exceed thirty-five thousand rupees; (ii) clause (b) of sub-section (1), his income from the business of running the eating place....
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.... the prescribed form, contain the name of such person, his address, nature of business or vocation and a declaration by him that, - (i) where he is carrying on the business of retail trade, his turnover from such trade during the relevant previous year does not exceed five lakh rupees and his income from such trade during that year does not exceed thirty-five thousand rupees; (ii....
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....hall apply in relation to the assessment year commencing on the 1st day of April, 1993, and the 1st day of April, 1994. Explanation : For the purposes of this section, "vocation" includes tailoring, hair-cutting, clothes' washing, typing, photo-copying, repair work of any kind and other services of a similar nature. 115L. Return for income not to be filed in certain cases. - ....