PRESEUMPTIVE TAX

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  1. I am a self employed Chartered Engineer & Plant & Machinery valuer . I charge my clients service tax for rendering service .

    1st question - Do I have to include service tax in computation of GROSS RECEIPTS for presumptive tax scheme announced by FM.

    2nd question - Suppose my income tax return for the year 2016-17 comes in tax scrutiny , what all documents do I have to produce as I am receiving considerable amount in cash after raising my invoices .
     
  2. Rimi Sen

    Rimi Sen New Member

    Hi

    I want to know whether TDS should be deducted every month from salary or it can be deducted annually by the employer.

    If my Salary is 42084 per month & 200 is being deducted as professional tax then what should be the amount of TDS deduction per month. And what should be the net salary ?
     
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preseumptive tax under section 44ADA Income Tax Mar 26, 2017