Economics · Economy
Presumptive taxation involves which one of the following?
- 1The use of indirect methods to calculate tax liability, which differ from the usual methods based on the taxpayer's accounts.✓
- 2Transfer of tax liability from the State to the Centre.
- 3Calculation of short-term capital gains.
- 4Calculation of relief under Section 89 of the Income Tax Act.
Correct answer
The use of indirect methods to calculate tax liability, which differ from the usual methods based on the taxpayer's accounts.
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