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Can you use the presumptive tax scheme?
The presumptive scheme lets small businesses declare 6% of digital receipts and 8% of cash receipts as income, up to ₹2 crore of receipts. Professionals declare 50%, up to ₹50 lakh. Both limits rise, to ₹3 crore and ₹75 lakh, when cash is no more than 5% of receipts. You then skip detailed books.
Draft rules: not yet verified by a CA. Do not rely on this figure.
You run a
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Your presumptive income is ₹6,80,000. You can use this scheme up to receipts of ₹2,00,00,000.
- Limit for you₹2,00,00,000
- Your receipts₹1,00,00,000
- Presumptive income₹6,80,000
Estimate for planning, not tax advice.
Presumptive income₹6,80,000
Worked example
A shop with ₹1 crore receipts, ₹60 lakh of it digital.
Your presumptive income is ₹6,80,000. You can use this scheme up to receipts of ₹2,00,00,000.
| Limit for you | ₹2,00,00,000 |
|---|---|
| Your receipts | ₹1,00,00,000 |
| Presumptive income | ₹6,80,000 |
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