Income Tax : Discover the right ITR form for senior and super senior citizens, including tax rates, exemptions, and filing conditions for FY 20...
Income Tax : Understand when to pay advance tax, the due dates, and the consequences of late payments, including interest charges under section...
Income Tax : Understand key aspects of advance tax, including compliance, payment due dates, revisions, and liabilities. Learn who is exempt fr...
Income Tax : Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance ...
Income Tax : All about interest under sections 234A, 234B, 234C, and 234D of the Income Tax Act, including when it is charged, rates, and calcu...
CA, CS, CMA : There is no requirement for submitting the Financial Statements i.e. Balance Sheets and Income & Expenditure Account for the appli...
CA, CS, CMA : ICAI decided to exclude audit conducted under section 44ADA of Income-tax Act, 1961 for reckoning the specified number of tax audi...
Income Tax : Punjab & Haryana HC upholds Principal Commissioner’s revision under Section 263. Assessing Officer’s wrong Section 44ADA asses...
Income Tax : Navigate complexities of personal income tax in India for FY 2023-2024. Learn about filing returns, responding to notices, and opt...
Income Tax : ITAT Mumbai rules that income earned from a consultancy business, even with TDS deductions, should not be taxed under Section 44AD...
Income Tax : ITAT Mumbai rules in favor of a production supervisor, declaring no illegality in adopting presumptive tax under section 44AD. Ful...
Income Tax : Pramod Kumar Tiwari Vs DCIT (ITAT Allahabad) in the case in hand, the assessee has admittedly filed the return under wrong provisi...
Income Tax : The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompas...
Discover the right ITR form for senior and super senior citizens, including tax rates, exemptions, and filing conditions for FY 2024-25.
Understand when to pay advance tax, the due dates, and the consequences of late payments, including interest charges under sections 234B and 234C.
Understand key aspects of advance tax, including compliance, payment due dates, revisions, and liabilities. Learn who is exempt from paying advance tax.
Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance requirements for small taxpayers.
All about interest under sections 234A, 234B, 234C, and 234D of the Income Tax Act, including when it is charged, rates, and calculation periods.
Punjab & Haryana HC upholds Principal Commissioner’s revision under Section 263. Assessing Officer’s wrong Section 44ADA assessment found erroneous.
Explore key issues in Budget 2024, including tax rectification delays, unjust tax rates, exorbitant TCS on foreign travel, and needed reforms in presumptive taxation.
Learn about the new Section 194T, its implications on TDS for partners’ remuneration, and the interplay with Section 40(b) from the latest budget amendment.
Learn about the Madras High Court’s landmark ruling quashing an income tax reassessment notice for a medical professional under Section 44ADA. Find out why proper classification of professional services is crucial.
Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sections 44AD, 44ADA, and 44AE of the Income Tax Act. These sections, aimed at simplifying tax compliance for certain taxpayers, face scrutiny for their applicability, concessions, and implications on business operations. WHETHER THE PROBLEMS IN THE PRESUMPTIVE TAXATION WILL […]
