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Understanding Section 43B(h) of the Income Tax Act,1961

Income Tax : Understand the implications of Section 43B(h) of the Income Tax Act, 1961, on timely payments to MSMEs. Learn about benefits, appl...

February 19, 2024 18858 Views 0 comment Print

MSME Payments under Section 43B(h): Deductions on Actual Payment

Income Tax : Explore the implications of the recent Income Tax amendment to Section 43B affecting MSMEs. Understand how timely payments are cru...

January 20, 2024 25392 Views 1 comment Print

Presumptive Taxation: Simplifying Taxes for Small Businesses

Income Tax : Discover the simplicity of Presumptive Taxation for small businesses! Unraveling Sections 44AD, 44ADA, and 44AE of the Income Tax ...

October 18, 2023 1026 Views 0 comment Print

Ease of Taxation for Small Taxpayers (Presumptive Taxation)

Income Tax : Learn about India's Presumptive Taxation Scheme, offering relief from complex accounting and audits for small taxpayers under sect...

October 14, 2023 1047 Views 0 comment Print

Presumptive Taxation Scheme Under Section 44ADA and Section 44AE

Income Tax : Explore the Presumptive Taxation Scheme under Sections 44ADA and 44AE of the Income Tax Act 1961. Learn how individuals and partne...

July 25, 2023 2790 Views 0 comment Print


Latest News


Audit U/s. 44ADA not to be counted for Tax Audit Limit Calculation: ICAI

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...

August 23, 2018 5133 Views 2 comments Print


Latest Judiciary


Possession of transport vehicles sufficient for Section 194C TDS exception

Income Tax : ITAT Jodhpur rules that possession of transport vehicles is sufficient for Section 194C TDS exception, emphasizing the significanc...

February 9, 2024 174 Views 0 comment Print

Revisionary proceedings not illegal when assessee remained non-compliant in explaining his case

Income Tax : ITAT Raipur held that revisionary proceedings cannot be termed as illegal or not maintainable when the assessee have not responded...

October 27, 2023 267 Views 0 comment Print

Penalty u/s 271B not leviable as benefit of presumptive taxation upto Rs. 2 Crores available

Income Tax : ITAT Jaipur held that penalty under section 271B of the Income Tax Act not leviable as the assessee is eligible to avail the benef...

October 14, 2023 6048 Views 0 comment Print

Expenditure related to goods carriage taken on hire is allowed even if receipts taxed u/s 44AE

Income Tax : ITAT Delhi held that expenditure related to the goods carriages taken on hire from the open market for carrying out the transporta...

November 28, 2022 918 Views 0 comment Print

No addition for cash deposits when Assessee offered Income u/s 44AE

Income Tax : Bijoy Shribastab & Anr. Vs ITO (ITAT Kolkata) It is not in dispute that the assessee had not maintained books of accounts for ...

May 23, 2018 3615 Views 0 comment Print


Latest Notifications


Clarification on amendment in Section 44AE of Income Tax Act, 1961

Income Tax : Which of the following has to be considered while calculating the presumptive income under section 44AE of the Income-tax Act.1961...

August 14, 2019 38568 Views 3 comments Print


Latest Posts in section 44AE

Understanding Section 43B(h) of the Income Tax Act,1961

February 19, 2024 18858 Views 0 comment Print

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.

Possession of transport vehicles sufficient for Section 194C TDS exception

February 9, 2024 174 Views 0 comment Print

ITAT Jodhpur rules that possession of transport vehicles is sufficient for Section 194C TDS exception, emphasizing the significance of beneficial ownership.

MSME Payments under Section 43B(h): Deductions on Actual Payment

January 20, 2024 25392 Views 1 comment Print

Explore the implications of the recent Income Tax amendment to Section 43B affecting MSMEs. Understand how timely payments are crucial and the potential impact on tax liability.

Revisionary proceedings not illegal when assessee remained non-compliant in explaining his case

October 27, 2023 267 Views 0 comment Print

ITAT Raipur held that revisionary proceedings cannot be termed as illegal or not maintainable when the assessee have not responded and remain non-compliant in explaining his case before the PCIT.

Presumptive Taxation: Simplifying Taxes for Small Businesses

October 18, 2023 1026 Views 0 comment Print

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.

Ease of Taxation for Small Taxpayers (Presumptive Taxation)

October 14, 2023 1047 Views 0 comment Print

Learn about India’s Presumptive Taxation Scheme, offering relief from complex accounting and audits for small taxpayers under sections 44AD, 44ADA, and 44AE.

Penalty u/s 271B not leviable as benefit of presumptive taxation upto Rs. 2 Crores available

October 14, 2023 6048 Views 0 comment Print

ITAT Jaipur held that penalty under section 271B of the Income Tax Act not leviable as the assessee is eligible to avail the benefit of presumptive taxation up to Rs. 2 Crores as per section 44D of the Income Tax Act.

Presumptive Taxation Scheme Under Section 44ADA and Section 44AE

July 25, 2023 2790 Views 0 comment Print

Explore the Presumptive Taxation Scheme under Sections 44ADA and 44AE of the Income Tax Act 1961. Learn how individuals and partnership firms in specified professions can declare income at a prescribed rate, simplifying tax compliance. Understand the eligibility criteria, computation methods, ITR form usage, and the benefits of adopting these schemes for small business owners and professionals.

Small Businessmen Can opt Presumptive Taxation Scheme under section 44AD

June 29, 2023 1575 Views 0 comment Print

Learn how small business owners can benefit from the presumptive taxation scheme under Section 44AD. Find out the eligibility criteria, calculation method, and advantages of this scheme. Discover how it can simplify tax compliance for small businesses.

Presumptive Taxation Scheme: Meaning, Eligibility & Implications – Explained

June 28, 2023 139155 Views 18 comments Print

Understand the concept of presumptive taxation scheme, its eligibility criteria, and implications for taxpayers. Learn about different sections under Income-tax Act, such as 44AD, 44ADA, and 44AE, and how they provide relief to small taxpayers.