Government introduces tax-incentive on less-cash transactions, deemed profit rate u/s 44AD reduced from 8% to 6%

Dec 19,2016

CBDT announces reduction in deemed profit rate from 8% to 6% u/s 44AD (which provides for a presumptive tax scheme) in respect of the amount of total turnover or gross receipts received through banking channel / digital means for FY 2016-17; CBDT announces reduced rate with a view to incentivise small traders / businesses to proactively accep...

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