Income Tax : The Income Tax Act, 2025 replaces Sections 44AD, 44ADA, and 44AE with a unified Section 58 framework. While the structure has been...
Income Tax : The issue addresses the consolidation of multiple presumptive taxation provisions into a single section. The framework simplifies ...
Income Tax : The Income Tax Act, 2025 introduces Section 58, consolidating earlier presumptive taxation schemes into one unified framework. It ...
Income Tax : The amendment removes MAT for additional specified non-resident businesses taxed on a presumptive basis. This ensures uniform tax ...
Income Tax : The issue examines how presumptive taxation is consolidated under Section 58. The key takeaway is that structural simplicity masks...
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 : The ITAT Delhi held that once income higher than the presumptive rate under Section 44AD was declared, the assessee was not requir...
Income Tax : The Tribunal held that GST collected is not part of income for presumptive taxation under section 44B. It ruled that GST is a stat...
Income Tax : The Tribunal held that once income is declared under the presumptive taxation scheme of Section 44AD, individual cash deposits can...
Income Tax : ITAT held that cash deposits during demonetization were explained as business sales declared under Section 44AD. Without disprovin...
Income Tax : The Tribunal held that cash deposits could not be fully treated as undisclosed when income was declared under section 44AD. The ke...
Overview of presumptive taxation under the Income Tax Act covering sections 44AD, 44ADA, and 44AE—eligibility, ineligible businesses, income computation, record maintenance, and advance tax rules.
An analysis of India’s presumptive tax provisions for non-residents, covering sections 44B, 44BB, 44BBA, and 44BBB. Includes scope, challenges, and DTAA interaction.
An overview of presumptive taxation’s history, global use, benefits, and limitations. Examines its role in simplifying taxes for small businesses and constitutional challenges.
A detailed guide to audit obligations under Section 44AB and presumptive taxation schemes under Sections 44AD and 44ADA. Explains turnover limits, digital transaction benefits, lock-in rules, and when tax audit becomes compulsory
Indian freelancers, consultants, and creators face tax scrutiny over TDS mismatches and the use of presumptive taxation provisions. Learn about the compliance challenges.
The ITAT Delhi ruled that cash deposits in a bank account, which are part of business receipts already covered by presumptive tax under Section 44AD, cannot be added as unexplained cash credits.
Understand the rules for computing presumptive tax under Section 44AE for heavy goods vehicles, including definitions of Gross Vehicle Weight and Unladen Weight.
A detailed guide on Sections 44AA, 44AB, 44AD, and 44ADA of the Income Tax Act, explaining rules for account maintenance, tax audits, and presumptive taxation schemes for businesses and professionals.
This guide explains key sections of the Indian Income Tax Act (44AA, 44AB, 44AD, 44ADA), covering rules for account maintenance, tax audits, and presumptive taxation.
ITAT Mumbai rules presumptive taxation under Section 44AD doesn’t bar Section 68 additions for unexplained cash credits from suspicious transactions.
