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Section 44AD

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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 6114 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 12564 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 2360436 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 13335 Views 2 comments Print

Comprehensive Guide to Maintenance of Books of Accounts

Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...

June 9, 2026 20184 Views 0 comment 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 5379 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 39825 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 441 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 14247 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 60120 Views 0 comment Print


Section 44AD Overrides Ad-Hoc 50% Profit Estimation

December 31, 2025 1032 Views 0 comment Print

ITAT Surat struck down a 50% turnover-based income estimation, applying Section 44AD to compute actual presumptive profit at 8%. Key takeaway: AO cannot inflate income without legal basis.

Presumptive Taxation Allowed as Partner’s Remuneration Is Professional Income: ITAT Delhi

December 28, 2025 4746 Views 0 comment Print

The tribunal held that remuneration received by a professional partner qualifies as professional income. The key takeaway is that such receipts can be taxed under Section 44ADA.

Agent Collections vs Own Sales—Hyderabad ITAT Remands 69A Addition for Fresh Verification

December 23, 2025 372 Views 0 comment Print

The tribunal observed that Way Bills produced by the assessee prima facie supported the claim of business sales. The addition was therefore set aside and restored for fresh verification.

Past Accepted Profit Rate Must Guide Estimation; 10% Arbitrary Cut to 6% – ITAT Bangalore

December 21, 2025 582 Views 0 comment Print

The Tribunal held that enhancing profit to 10% without comparables was arbitrary. Past accepted margins around 6% had to guide estimation. Income was directed to be computed at 6%.

No U/s 115BBE Tax Because Income Was Business Profit, Not Unexplained Money

December 20, 2025 1260 Views 0 comment Print

The ITAT held that unrecorded sales cannot be taxed in full under Section 69A. Only the profit element at a reasonable GP rate is assessable as business income.

Reassessment Quashed for Escaped Income Below ₹50 Lakh Threshold

December 19, 2025 1284 Views 0 comment Print

The Tribunal examined whether reassessment beyond three years was valid when the assessed escaped income was only ₹13.98 lakh. It held that failure to meet the ₹50 lakh threshold under section 149(1)(b) rendered the reassessment without jurisdiction.

1918-Day Delay Condoned; No Penalty on Excess Section 54F/54B Claim

December 19, 2025 501 Views 0 comment Print

The Tribunal examined whether penalty could be levied for claiming excess deduction under sections 54F and 54B. It held that an inadvertent and promptly corrected mistake does not amount to concealment or furnishing inaccurate particulars.

Section 44AD Case Can’t Become Blanket Cash Addition; ITAT Surat Sets Aside ₹5.09 Cr Assessment

December 19, 2025 891 Views 0 comment Print

The ITAT held that additions based on incorrect and unreconciled bank data cannot be sustained. The assessment was remanded for fresh verification of actual cash deposits and credits.

Presumptive Taxation Applied Because Business Receipts Can’t Be Fully Treated as Unexplained

December 19, 2025 300 Views 0 comment Print

The issue was whether entire cash deposits could be added as unexplained despite income being declared under section 44AD. The Tribunal held that presumptive taxation shields routine business deposits, though a reasonable lump-sum addition was justified where receipts were partly unsubstantiated.

Application u/s. 80G inadvertently considered as application u/s. 12AB: Matter restored

December 16, 2025 582 Views 0 comment Print

ITAT Jaipur held that application for approval under section 80G inadvertently considered as application under section 12AB of the Income Tax Act is against principle of natural justice. Accordingly, matter restored back to CIT(E).

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