Small Taxpayers (Businesses & Professionals) whose account are not liable to Audit can avail the benefit of Presumptive Taxation Scheme and file their Income Tax return on or before 31st July 2018.
ii) 8% of the Gross receipt or total turnover treated as income in case of business by Individual, HUF or Partnership (in case of amount received through account payee cheque / draft or through digital transaction only 6% is treated as income) having turnover less than 2 Crores.
iii) 50% of the gross receipts to be treated as income in case of professionals having turnover less than 50 lakh
iv 7500/·per goods carriage per month subject 10 maximum limit of 10 goods carriages) is deemed as income in case of persons engaged in the business of plying, hiring or leasing of goods carriages.
e-filing of income Tax Return is compulsory for –
• For e-filing return of income log on to https://incometaxindiaefiling.gov.in