Government on December 20 said small traders will be able to save up to 46 per cent in tax by migrating from cash to digital transaction mode, as the decision to tweak the presumptive income norms would reduce tax liability. “Apart from making tax saving of up to 46 per cent by migrating to digit…
Tag: demonetise
Less tax for small traders on digital transactions: Arun Jaitley
Small traders and businesses with a turnover of up to Rs 2 crore will pay less tax if they accept payments through banking and digital means, Finance Minister Arun Jaitley said on December 19. He said in the budget for 2016-17 that small traders and businessmen with turnover of up to Rs 2 crore w…