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 tribunal ruled that business income under section 44AD cannot be taxed using section 44ADA provisions. Presumptive schemes mus...
CA, CS, CMA : The calendar lists all major statutory deadlines across laws. It helps businesses track filings and avoid penalties through timely...
CA, CS, CMA : There is no requirement for submitting the Financial Statements i.e. Balance Sheets and Income & Expenditure Account for the appli...
CA, CS, CMA : ICAI decided to exclude audit conducted under section 44ADA of Income-tax Act, 1961 for reckoning the specified number of tax audi...
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 ruled that section 44ADA applies only to specified professions and cannot be invoked for business income covered unde...
Income Tax : The AO questioned genuineness and love and affection behind the gift. The ITAT held that once relationship and capacity are proved...
Income Tax : The tribunal held that remuneration received by a professional partner qualifies as professional income. The key takeaway is that ...
Income Tax : The ₹8.49 lakh credited for household expenditure from husband was deleted as non-taxable. The unexplained ₹17.80 lakh in the ...
Income Tax : The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompas...
Explore the freelance economy growth, benefits, and tax implications for Indian freelancers, including income tax, Section 44ADA, and GST compliance for global clients.
Navigate complexities of personal income tax in India for FY 2023-2024. Learn about filing returns, responding to notices, and optimizing your tax obligations. Get expert insights and avoid common pitfalls.
Understand the recent changes in tax audit responsibilities imposed by the Central Board of Direct Tax in India. Explore amendments and implications for tax auditors.
Understand the implications of Section 43B(h) of the Income Tax Act, 1961, on timely payments to MSMEs. Learn about benefits, applicability, due dates, and exceptions.
Introduction: The financial year 2023-24, corresponding to the assessment year 2024-25, introduces significant amendments that impact taxability, exemptions, and deductions. These changes are pivotal for taxpayers aiming to navigate the altered fiscal landscape effectively. Understanding these amendments is crucial for optimizing tax planning and compliance. Applicable Sec Particulars Taxability Sec 50AA Taxability of Debt Fund […]
Unravel the legal compliances for freelancers – from income tax to GST and TDS. A comprehensive guide to ensure compliance and avoid consequences in your freelancing career.
Explore the impact of Finance Act, 2023, on MSME payment enforcement under section 43B(h) of the Income Tax Act, 1961. Understand MSMED Act provisions, payment periods, interest rates, and the intersection with income tax regulations.
Explore the tax implications of moonlighting in India. Learn how additional income is taxed, whether as salary or professional fees. Understand the nuances and stay tax-compliant.
Discover the simplicity of Presumptive Taxation for small businesses! Unraveling Sections 44AD, 44ADA, and 44AE of the Income Tax Act, this article explains how this streamlined approach eases tax complexities, benefits small businesses, and simplifies the filing process. Learn about eligibility criteria, computation methods, and the potential impact of opting in or out. Simplify your tax journey with Presumptive Taxation.
Learn about India’s Presumptive Taxation Scheme, offering relief from complex accounting and audits for small taxpayers under sections 44AD, 44ADA, and 44AE.
