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Union Budget Speech: Micro enterprises with Rs 2 cr turnover can avail presumptive taxation

Updated: Feb 01, 2023 07:08:47am
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Union Budget Speech: Micro enterprises with Rs 2 cr turnover can avail presumptive taxation

New Delhi, Feb 1 (KNN) Micro enterprises with turnover of Rs 2 crore and upto Rs 3 crore can avail the benefit of presumptive taxation, said the Union Finance Minister Nirmala Sitharaman on Wednesday.

Professional upto Rs 50 lakh can avail presumptive tax benefit upto turn over and gross receipts of Rs 3 crore and Rs 75 lakh.

Date of incorporation of start-ups for it benefits extended from March 31, 2023 to March 31, 2024.

Indirect Tax proposals aim to promote exports, boost domestic manufacturing, enhance domestic value addition, and encourage green energy and mobility.  (KNN Bureau)

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