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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114Government of India<\/strong><\/p>\n Ministry of Finance<\/strong><\/p>\n Department of Revenue<\/strong><\/p>\n Central Board of Direct Taxes<\/strong><\/p>\n New Delhi, 20th December, 2016.<\/strong><\/p>\n Press Release<\/u><\/strong><\/p>\n <\/p>\n Sub: Measures for Promoting Digital Payments & Creation of Less-Cash Economy.<\/strong><\/p>\n <\/p>\n The benefit of lower rate of Income-tax on digital turnover for small businesses up to a turnover of Rs. Two crore announced by the Government on 19th December, 2016 under Section 44AD of the Income-tax Act, 1961 is a huge benefit given to businessmen for promoting digital\/banking transactions. The benefits given are explained in the following paragraph.<\/p>\n <\/p>\n 100% Cash<\/strong><\/p>\n Turnover (Rs.)<\/strong><\/td>\n 60% Digital<\/strong><\/p>\n Turnover (Rs.)<\/strong><\/td>\n 100% Digital<\/strong><\/p>\n Turnover (Rs.)<\/strong><\/td>\n<\/tr>\n Profit on Cash<\/p>\n Turnover @ 8%<\/td>\n Profit on Digital<\/p>\n turnover @ 6%<\/td>\n Deduction u\/s<\/p>\n 80C<\/td>\n (Meenakshi J. Goswami)<\/strong><\/p>\n Commissioner of Income Tax<\/strong><\/p>\n (Media and Technical Policy)<\/strong><\/p>\n Official Spokesperson, CBDT.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 20th December, 2016. Press Release Sub: Measures for Promoting Digital Payments & Creation of Less-Cash Economy. The benefit of lower rate of Income-tax on digital turnover for small businesses up to a turnover of Rs. Two crore … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4],"tags":[458],"class_list":["post-3747","post","type-post","status-publish","format-standard","hentry","category-income-tax","tag-44ad"],"yoast_head":"\n\n
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\n Particulars<\/strong><\/td>\n \n \n \n \n <\/td>\n<\/tr>\n \n Total Turnover<\/td>\n 2 Crore<\/td>\n 2 Core<\/td>\n 2 Crore<\/td>\n<\/tr>\n \n Cash Turnover<\/td>\n 2 Crore<\/td>\n 0.80 Crore<\/td>\n NIL<\/td>\n<\/tr>\n \n Digital Turnover<\/td>\n NIL<\/td>\n 1.2 Crore<\/td>\n 2 Crore<\/td>\n<\/tr>\n \n \n 16 Lakh<\/td>\n 6.40 Lakh<\/td>\n NIL<\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n \n NIL<\/td>\n 7.20 Lakh<\/strong><\/td>\n 12 Lakh<\/td>\n<\/tr>\n \n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n \n Total Profit<\/td>\n 16 Lakh<\/td>\n 13.60 Lakh<\/td>\n 12 Lakh<\/td>\n<\/tr>\n \n \n 1.5 Lakh<\/td>\n 1.5 Lakh<\/td>\n 1.5 Lakh<\/td>\n<\/tr>\n \n <\/td>\n<\/tr>\n \n Taxable Income<\/td>\n 14.50 Lakh<\/td>\n 12.10 Lakh<\/td>\n 10.50 Lakh<\/td>\n<\/tr>\n \n Tax Payable<\/td>\n 2,67,800<\/td>\n 1,93,640<\/td>\n 1,44,200<\/td>\n<\/tr>\n \n Tax Saving<\/strong><\/td>\n NIL<\/strong><\/td>\n 74,160<\/strong><\/td>\n 1,23,600<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \n