FnO and Presumptive Taxation

Taxation
6

Hi @nituldas,

Under the presumptive taxation scheme you need to report higher of the following:

  1. Profits @ 6% of the turnover
  2. or actual profits.

In case your actual profits are higher than 6% of the turnover, you should report the actual profits.
You can read more about the presumptive taxation scheme u/s 44AD here