I do Intraday & BTST trade. If my total turnover is less than 2 crore, can I use presumptive tax, which says, I only earned 8% as profit of the total turnover, so 8% profit of 2 crore is 16 lakh? But in reality, I earned more than 16 lakh?
And Turnover is total profit + total loss.
I earned 40 lakh this year in trading, looking for ways to save tax. I will show my Internet, computer bill, but looking for more options. I may earn more than 1-2 crore this year, so Is there any other way? Maybe trading from dubai or anything like that?
@Quicko please, thank you.