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Presumptive Taxation Scheme

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Presumptive Taxation Guide for Non-Residents under Sections 44B to 44BBB

Income Tax : Explore presumptive taxation for non-residents under Sections 44B, 44BB, 44BBA, and 44BBB of the Income Tax Act, 1961, for streaml...

March 7, 2024 867 Views 0 comment Print

Impact of Interim Budget 2024: Presumptive Tax, Tax Regimes & Faceless Assessment

Income Tax : Explore potential amendments to presumptive taxation, concerns about the New Tax Regime impact, and insights on Faceless Assessmen...

February 2, 2024 1182 Views 0 comment Print

Cash Deposits & Taxation: Section 69A vs. Section 44AD: Key Case Laws

Income Tax : Explore the impact of demonetization on cash deposits in India and the key legal insights from Section 69A vs. Section 44AD cases....

November 7, 2023 11949 Views 0 comment Print

Presumptive Taxation: Simplifying Taxes for Small Businesses

Income Tax : Discover the simplicity of Presumptive Taxation for small businesses! Unraveling Sections 44AD, 44ADA, and 44AE of the Income Tax ...

October 18, 2023 996 Views 0 comment Print

Ease of Taxation for Small Taxpayers (Presumptive Taxation)

Income Tax : Learn about India's Presumptive Taxation Scheme, offering relief from complex accounting and audits for small taxpayers under sect...

October 14, 2023 1035 Views 0 comment Print


Latest News


MEF empanelment date extended – Firms under Presumptive Taxation not to submit Financial Statements

CA, CS, CMA : There is no requirement for submitting the Financial Statements i.e. Balance Sheets and Income & Expenditure Account for the appli...

October 9, 2020 1011 Views 0 comment Print


Presumptive Taxation under section 44ADA for professional

August 13, 2023 12306 Views 0 comment Print

Explore the benefits and implications of presumptive taxation under section 44ADA for professionals. Understand the eligibility criteria, specified professions, and simplified tax compliance, empowering individuals and partnership firms in managing their income tax obligations efficiently.

Section 44AD: Production supervisor can adopt Presumptive Taxation scheme

July 31, 2023 1863 Views 0 comment Print

ITAT Mumbai rules in favor of a production supervisor, declaring no illegality in adopting presumptive tax under section 44AD. Full analysis of the case.

Presumptive Taxation Scheme Under Section 44ADA and Section 44AE

July 25, 2023 2772 Views 0 comment Print

Explore the Presumptive Taxation Scheme under Sections 44ADA and 44AE of the Income Tax Act 1961. Learn how individuals and partnership firms in specified professions can declare income at a prescribed rate, simplifying tax compliance. Understand the eligibility criteria, computation methods, ITR form usage, and the benefits of adopting these schemes for small business owners and professionals.

Presumptive Income Taxation: Section 44AD Explained

July 24, 2023 56073 Views 7 comments Print

Learn about taxability under Section 44AD of Income Tax Act 1961. Understand eligibility, computation, deductions, consequences, and ITR filing under presumptive taxation scheme.

Applicability of Tax Audit and Inter-link between Section 44AB, 44AD & 44ADA

July 20, 2023 77892 Views 4 comments Print

Explore the intricacies of tax audit and the interlink between sections 44AB, 44AD, and 44ADA of the Income Tax Act for the Assessment Year 2023-24. Understand the applicability conditions, thresholds, and amendments that impact businesses and professionals. A comprehensive flowchart is provided to help assess the necessity of a tax audit. Stay informed for informed financial decisions.

Section 44AD/44AF apply to presumptive assessment & not apply to Companies

July 19, 2023 3402 Views 0 comment Print

The provisions of section 44AD/44AF of the Act apply only to presumptive assessment, where the turnover is Rs.40.00 lacs or less and not the cases, where turnover is more than that.

Reimbursement of service tax not includible in gross turnover for Section 44BB

June 29, 2023 546 Views 0 comment Print

Explore the case of Western Geco International Ltd vs. DDIT (ITAT Delhi) and decision regarding exclusion of reimbursement of service tax from gross turnover for computation of taxable income under Section 44BB of Income Tax Act.

Small Businessmen Can opt Presumptive Taxation Scheme under section 44AD

June 29, 2023 1548 Views 0 comment Print

Learn how small business owners can benefit from the presumptive taxation scheme under Section 44AD. Find out the eligibility criteria, calculation method, and advantages of this scheme. Discover how it can simplify tax compliance for small businesses.

Understanding Presumptive Taxation: Benefits and Applicability in India

June 28, 2023 2286 Views 3 comments Print

Dive into the concept of presumptive taxation in India and explore its benefits for small businesses. Learn about the provisions of Section 44AD, 44ADA, and 44AE, and their applicability. Understand the advantages of opting for presumptive taxation and its impact on tax audits and bookkeeping requirements.

Simplified Taxation- Presumptive Taxation Scheme

June 26, 2023 1515 Views 0 comment Print

Explore the simplified Presumptive Taxation Scheme under the Indian Income Tax Act. Sections 44AD, 44ADA, and 44AE offer eligible individuals and entities a convenient way to declare income without maintaining detailed accounts. Understand the applicability, limits, and rates for each section, ensuring compliance with advance tax and audit requirements.

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