For small businesses and notified professionals, the income tax law provides an easy way to calculate income. Income is calculated on the basis of gross receipts/ turnover for a particular financial year.
This video provides a detailed understanding of presumptive taxation and the conditions involved.
List of professionals as notified for presumptive taxation:
GST Due Dates Chart – February to August 2020
Cloud-based Accounting Software Review: Zoho Books vs QuickBooks Online
Recommendations in the 40th GST Council meeting
Personal Monthly Accounting – A guide to record and optimise your savings