SECTION 44AF SPECIAL PROVISIONS FOR COMPUTING PROFITS AND GAINS OF RETAIL BUSINESS
#INCOMETACACT #SECTION44AF #SECTION23 #SECTION43C #SECTION30 #SECTION38 #SECTION44AA #SECTION44AB Sub Section 01- In the case of an assessee engaged in retail trade of any goods or merchandise, regardless of anything to the contrary contained in sections 28 to 43C, a sum equal to 5% of the total turnover on account of such business in the previous year, or, as the case may be, a sum higher than the aforesaid sum as declared by the assessee in his return of income, shall be de