Turnover- 1 Cr, TAX- 22,500 Only? 🤯

As per Section 44AD a you can chose to pay presumptive tax on your profit. Which is 6% of your Annual Turnover as per 44AD.

*8% when Turnover is in Cash.

So 6% of 1 Cr is 6 Lakh.

So he needs to pay tax on 6 Lakh income only. Which is Rs. 22,500.

2.5 L to 5 L (5%) Rs. 12,500
5L to 6L (10%) Rs. 10,000

Total Rs. 22,500

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