Income Tax Tips :-
Great news for professionals who are earning less than Rs.50lakh gross receipts in a financial year.
How much presumptive income to be offered :- Higher of 50% gross receipts from profession OR Income from profession offered by Assessee.
Benefits :-
-Assessee need not maintain books required to be kept u/s 44AA
-Assessee need not get the accounts audited u/s 44AB
