21. Are Grocery & Merchandise Stores eligible for income tax return (ITR) filing?
Merchandise Stores Merchandise Stores, Yes, grocery and merchandise stores fall within the purview of (ITR) Income tax return filing if their yearly turnover surpasses Rs. 2 crore. Yet, an alternative exists in the form of the presumptive taxation scheme under Section 44AD of the Income Tax Act, 1961, catering to those with a turnover below Rs.… Read More »
