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Section 44AD

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Presumptive Taxation Scheme: Meaning, Eligibility & Implications

Income Tax : This guide explains the presumptive taxation schemes available under the Income-tax Act, including Sections 44AD, 44ADA, and 44AE....

June 24, 2026 166281 Views 19 comments Print

FAQs on Maintenance of books of accounts under Income Tax Act, 1961

Income Tax : This guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and i...

June 23, 2026 6171 Views 0 comment Print

FAQs on interest under section 234A, 234B, 234C and 234D

Income Tax : The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalme...

June 20, 2026 12567 Views 0 comment Print

Presumptive taxation- Section 44AD, 44ADA, 44AEAC

Income Tax : The Income-tax Act provides presumptive taxation schemes under Sections 44AD, 44ADA, and 44AE to reduce compliance burdens by allo...

June 17, 2026 2360490 Views 230 comments Print

Presumptive Audit Controversy: Profit Trigger vs Turnover Trigger

Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...

June 16, 2026 13392 Views 2 comments Print


Latest News


ICAI Sets New Annual Tax Audit Limit of 60 per CA

CA, CS, CMA : The ICAI has updated guidelines for tax audit limits, retaining a 60-audit cap per member per financial year. The rule is effectiv...

July 31, 2025 5388 Views 1 comment Print

Join 5-Day Live & Online Income Tax Audit Course with Practical Examples

Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...

August 23, 2024 2103 Views 0 comment Print

Tax Audit Under Income Tax Act: Detailed Live Course with Practical Insights – Starting Today

Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...

August 19, 2024 4350 Views 0 comment Print

Draft Revised ‘Guidance Note on Tax Audit under section 44AB

Income Tax : Exposure Draft of Revised ‘Guidance Note on Tax Audit under section 44AB of Income-tax Act, 1961’ is issued by ICAI Direct Tax...

July 22, 2023 104400 Views 0 comment Print

13 Reasons why due date of ITR & Tax Audit should be extended- Representation

Income Tax : Representation for extension of Due date of Income Tax Returns And Audit Report For A.Y. 2021-2022 (F.Y.  2020-2021. It is reques...

December 21, 2021 39831 Views 8 comments Print


Latest Judiciary


Reopening Upheld as Seized Diaries Revealed Unaccounted Cash Transactions Above Statutory Threshold

Income Tax : ITAT Ahmedabad upheld reassessment proceedings after finding that seized diaries recorded unaccounted cash transactions exceeding ...

June 17, 2026 123 Views 0 comment Print

Business Expenses Cannot Be disallowed on Mere Suspicion: ITAT Mumbai

Income Tax : The Tribunal held that business promotion and development expenses cannot be disallowed without concrete evidence establishing the...

June 13, 2026 213 Views 0 comment Print

Section 271(1)(c) Penalty Deleted for Cash Deposits Linked to Earlier Withdrawals

Income Tax : The ITAT Agra declined to condone an extraordinary delay of 2,799 days in filing the quantum appeal, holding that the explanation ...

June 13, 2026 201 Views 0 comment Print

ITAT Remands Reassessment Case Due to Failure to Examine Additional Evidence

Income Tax : ITAT Delhi set aside the assessment after finding that the assessees additional evidence had not been properly scrutinized by the ...

June 11, 2026 147 Views 0 comment Print

TDS Under Section 194J Alone Cannot Determine Nature of Income for presumptive taxation

Income Tax : The Tribunal held that deduction of tax under Section 194J cannot automatically classify receipts as professional income. Tax auth...

June 11, 2026 444 Views 0 comment Print


Latest Notifications


CBDT amends rules pertaining to registration, approval & activities of Institutions, trusts & funds

Income Tax : The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompas...

June 23, 2023 14076 Views 1 comment Print

CBDT notifies more modes of e-payments; 6DD limit reduced to ₹ 10000

Income Tax : Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amend...

January 29, 2020 14250 Views 0 comment Print

CBDT extends return of Income / ITR Due date to 30.11.2014

Income Tax : In compliance to the judgments of various High Courts and after considering the representations received for extension of the due ...

September 26, 2014 67635 Views 0 comment Print

CBDT Notifies new Form 3CA, 3CB & 3CD – Format of Tax Audit Report Revised

Income Tax : Notification No. 33/2014-Income Tax S.O. 1902 (E).. In exercise of the powers conferred by section 295 read with section 44AB of t...

July 25, 2014 60123 Views 0 comment Print


TDS vs. Advance Tax: What Every Taxpayer Needs to Know

March 6, 2025 4797 Views 0 comment Print

Learn the differences between TDS and Advance Tax, their applicability, payment schedules, penalties, and tax planning tips to ensure compliance and avoid fines.

Why CS Should Be Accountants Under Income-Tax Bill 2025 – A Research

March 4, 2025 19221 Views 2 comments Print

Explore our analysis on including Company Secretaries as Accountants under the Income-Tax Bill 2025. Benefits include improved compliance, cost efficiency, and governance.

Taxability of director remuneration: Salary or Business income

March 3, 2025 30540 Views 1 comment Print

Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee relationships, and GST applicability.

Presumptive Taxation Scheme for MSMEs and Business Tax Benefits

February 27, 2025 1881 Views 0 comment Print

#AD Taxation is essential for businesses, but for small enterprises and professionals, it can be complex and time-consuming. Micro, Small, and Medium Enterprises (MSMEs) often struggle with bookkeeping, tax compliance, and audits, which can lead to financial inefficiencies and penalties for non-compliance. Recognizing these challenges, the Indian government introduced the Presumptive Taxation Scheme (PTS) under […]

PCIT Cannot invoke Section 263 to Change Profit Estimation Rate: ITAT Nagpur

February 26, 2025 1020 Views 0 comment Print

Section 263 could not be used merely to impose a different view on the estimation rate. Since the declared income exceeded the presumptive tax threshold, there was no loss to revenue, making the revision unjustified.

Addition of Unexplained Cash Deposit was sustained at 25% on basis of reasonable estimate

February 18, 2025 756 Views 0 comment Print

Aggrieved by the order passed by AO, assessee moved on with an appeal to CIT(A), where assessee challenged the reopening of the assessment, arguing that Section 148 was not justified.

Presumptive Income of Residents under Income Tax Bill 2025

February 18, 2025 6180 Views 1 comment Print

Explore the implications of the New Income Tax Bill 2025, including changes to deductions and losses under Section 58(4), aimed at simplifying tax computation while raising concerns over consistency with existing provisions.

Revenue cannot deviate from prior years decisions without demonstrating change in factual matrix

February 15, 2025 474 Views 0 comment Print

It is also noteworthy that the learned Departmental Representative (DR), during the hearing, did not point out any material differences between the facts of the present case and those of the earlier assessment years.

ITAT Jaipur Orders Fresh Hearing in Undisclosed Income Ex Parte Case

February 15, 2025 660 Views 0 comment Print

ITAT Jaipur remands Jai Prakash Sharma’s case for fresh hearing after CIT(A) added ₹12,06,189 as undisclosed income due to non-compliance in earlier proceedings.

Survey Statement Not Sole Basis for Income Addition: ITAT Mumbai

February 14, 2025 687 Views 0 comment Print

ITAT Mumbai allows Hotel Deepak’s appeal, holding that a survey statement u/s 133A can’t be the sole basis for income addition when discrepancies exist and expenses are substantiated. The tribunal cites a prior similar ruling.

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