CA, CS, CMA : Learn about Section 58 of the Income Tax Bill 2025, which simplifies presumptive taxation for non-residents, including turnover li...
Finance : #AD Taxation is essential for businesses, but for small enterprises and professionals, it can be complex and time-consuming. Micro...
Income Tax : Section 44ADA of Income Tax Act, 1961 offers a presumptive taxation scheme for professionals, simplifying tax compliance by allowi...
Income Tax : Explore the implications of the New Income Tax Bill 2025, including changes to deductions and losses under Section 58(4), aimed at...
Income Tax : Simplify taxes with Section 44AD's presumptive taxation for small businesses. Learn eligibility, rates, and conditions for maintai...
CA, CS, CMA : There is no requirement for submitting the Financial Statements i.e. Balance Sheets and Income & Expenditure Account for the appli...
Income Tax : ITAT Pune rules that taxpayers must disclose cash-in-hand, bank balances, and receivables, even under the Presumptive Taxation Sch...
Income Tax : ITAT Mumbai allows Hotel Deepak's appeal, holding that a survey statement u/s 133A can't be the sole basis for income addition wh...
Income Tax : Appellant contended that since he had filed income tax returns under section 44AD of the Act, which does not require maintenance o...
Income Tax : ITAT Mumbai rules no addition under section 68 based on turnover declared under section 44 AD of Income Tax Act for Kalpesh Kantil...
Income Tax : Explore the interpretation of Sections 44 BB(1) and 44 BB(2) of the Income Tax Act in the case of CIT Vs B.J. Services Co. Me Ltd....
Learn about taxation on derivatives and F&O transactions, their treatment as business income, audit requirements, and presumptive taxation options.
Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance requirements for small taxpayers.
We’ve just wrapped up the non-audit tax filing season, and now we’re entering the critical and often confusing period of Tax Audits. Why do I call it confusing? Despite over several years of writing about Tax Audits, including numerous articles and full-length books, I still receive the queries around the applicability of tax audit in […]
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 […]
Learn about Section 44AD, a simplified method to compute business income, excluding some entities. Thresholds and tax implications are explained here.
Appellant contended that since he had filed income tax returns under section 44AD of the Act, which does not require maintenance of books of account, section 69A was not applicable.
Learn how to file ITR-4 for FY 2023-24 (AY 2024-25) under the presumptive taxation scheme. Detailed analysis, eligibility, procedure, and tax implications explained.
ITAT Mumbai rules no addition under section 68 based on turnover declared under section 44 AD of Income Tax Act for Kalpesh Kantilal Gada. Detailed analysis and order explained.
Explore presumptive taxation for non-residents under Sections 44B, 44BB, 44BBA, and 44BBB of the Income Tax Act, 1961, for streamlined tax compliance.
