Ninth Schedule – Traders (s.99A)
An optional trader scheme for tax years 2015 to 2018, based on working capital or turnover. It is now historical.
Who it applies to
Traders who opted in for tax years 2015–2018 (historical)
Rates and limits
| Item | Rate / rule |
|---|---|
| Turnover up to Rs 50 million | 0.2% |
| Rs 50–250 million | Rs 100,000 + 0.15% of the excess |
| Above Rs 250 million | Rs 400,000 + 0.1% of the excess |
How it works, step by step
The law behind each step is shown beside it.
- 1Part I (s.99A(1))Part I
1% of working capital (up to Rs 50 million) for TY2015, then turnover-based tax for TY2016–2018.
- 2Part II (s.99A(2))Part II
The higher of 25% more than last year's tax, tax on turnover, or Rs 30,000.
- 3ProtectionPart III
Audit under s.177 and s.214C did not apply for TY2015–2018.
How it works in practice
Relevant for past-year notices and assessments only.
Worked example
Relevant if you face notices for tax years 2015 to 2018 and opted for the scheme.
Points to watch
- Traders now use the NTR, with minimum tax where turnover is Rs 100 million or more.