F and o profit tax

Taxation
1

I made 4 lac profit in the FY 23-24 ,but turnover is 50 lacs , should I eligible for tax payer?

2

Do you have any other income sources like salary or any other income? If not, there might not be any tax obligation as you can get tax rebate till your income is below 7 lks as per new tax regime

3

Hey @kumar5,

In case this is your only source of income, then there will be no tax liability in either of the regimes.