In Hoogmatic, business ITR plans are all about the businesses or professions who are engaged in any activities of business or profession and generating turnover up to ₹ 2 crores per year or receipts ₹ 50 lacs per year respectively.

Presumptive means hypothetical, so presumptive income means which is calculated not on the actual basis but on a presumptive basis. For this Income tax department had identified 44AD and 44ADA section in the Income tax act.

No, the audit is not covered in any of the above plans. But in case, if you want to have an audit of your finances then we can arrange CA team for you.

No, any hidden cost is not involved in this or any of the Hoogmatic pricing or fees because we believe in transparency.

In both Business premium plan and Business superior plan the financial statement list is as follows:

• Balance sheet
• Profit and loss statement
• Stock statement report
• Computation of Income
• ITR acknowledgment

Your Income tax return will be prepared by the Chartered Accountant and his/her team.

The above plans can be opted by any professional or business.

If you don’t want a balance sheet and profit and loss statement then we will suggest you choose Business Basic Plan because it covers both salary and professional income less than ₹ 50 lacs per annum.

If you don’t want balance sheet and profit and loss statement then we will suggest you choose Business Upper Plan because it covers both house property income and professional income less than ₹ 50 lacs per annum.