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What is presumptive taxation? A presumptive taxation is really a system during which a federal government assumes a particular share of one's turnover/gross receipts as your taxable profits no matter the bills incurred.
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(“Owns” also incorporates products carriage taken on employ the service of or installment in which the quantity payable remains to be thanks)
Will I be allowed any deduction for virtually any expenditure incurred for investments and insurance coverage quality below Area 80C and 80D, if I choose presumptive taxation?
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