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I have heard about presumptive tax? Will it work for my small business?

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I have heard about presumptive tax? Will it work for my small business?
posted Nov 6, 2017 by Deepak Jangid

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If a business’ annual revenue is less than Rs 50 lakh, then presumptive tax can be opted, under composition scheme. Under this, you will be required to pay only 0.5-2.5% ‘assumed’ tax for the goods and services sold. However, this is not open for all. Only manufacturing units and some services like restaurants can opt for this presumptive tax option.

answer Nov 7, 2017 by Rani Das
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