Income Tax : The article argues that Section 58(3) of the Income-tax Act, 2025 does not independently mandate books of account or tax audit for...
Income Tax : The article examines whether Section 58(3) of the Income-tax Act, 2025 makes tax audit compulsory whenever profits fall below 6%, ...
Income Tax : This guide explains the presumptive taxation schemes available under the Income-tax Act, including Sections 44AD, 44ADA, and 44AE....
Income Tax : The Income-tax Act provides presumptive taxation schemes under Sections 44AD, 44ADA, and 44AE to reduce compliance burdens by allo...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
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 Tribunal held that deduction of tax under Section 194J cannot automatically classify receipts as professional income. Tax auth...
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...
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.
Understand income tax rules for cash deposits in businesses using presumptive taxation (Sec 44AD, 44AE). Learn about unexplained credits and bank statements.
Finance Act 2025 proposes presumptive taxation (Section 44BBD) for non-residents supporting India’s electronics manufacturing.
