Income Tax : Treatment of income from different sources Each income has different source of earning and so the provisions for its taxability. I...
Income Tax : Understand key reporting requirements for Tax Audit Reports under Sections 44AA and 44AB, including forms, clauses, and disclosure...
Income Tax : Learn about tax audit under Section 44AB, including objectives, requirements, forms, and penalties for non-compliance....
Income Tax : Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance ...
Income Tax : Understand who must maintain books of accounts, specific requirements for professionals, and penalties for non-compliance under In...
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 : Kerala High Court held that penalty under section 271B of the Income Tax Act, for non-compliance with provisions of section 44AB, ...
Income Tax : Delhi High Court held that TDS under section 194C of the Income Tax Act not deductible on capital grant subsidy extended by NHAI t...
Income Tax : Andhra Pradesh High Court held that insurance company cannot object to the income of the deceased as deceased did business and ear...
Corporate Law : Read the detailed analysis of Orissa High Court's decision to revise compensation under Section 44-AE of Income Tax Act in a motor...
Income Tax : Navigate complexities of personal income tax in India for FY 2023-2024. Learn about filing returns, responding to notices, and opt...
Income Tax : Which of the following has to be considered while calculating the presumptive income under section 44AE of the Income-tax Act.1961...
Learn about India’s Presumptive Taxation Scheme, offering relief from complex accounting and audits for small taxpayers under sections 44AD, 44ADA, and 44AE.
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.
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.
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.
Dive into the concept of presumptive taxation in India and explore its benefits for small businesses. Learn about the provisions of Section 44AD, 44ADA, and 44AE, and their applicability. Understand the advantages of opting for presumptive taxation and its impact on tax audits and bookkeeping requirements.
Explore the simplified Presumptive Taxation Scheme under the Indian Income Tax Act. Sections 44AD, 44ADA, and 44AE offer eligible individuals and entities a convenient way to declare income without maintaining detailed accounts. Understand the applicability, limits, and rates for each section, ensuring compliance with advance tax and audit requirements.
Explore special provisions for computing profits and gains under the Income Tax Act, 1961, covering diverse areas such as mineral oil exploration, small businesses on presumptive basis, professions, goods carriage operations, shipping, aircraft operation, turnkey power projects, and royalty income of non-residents. Stay updated on amendments and key details for effective tax planning.
Presumptive taxation scheme is a simplified tax system that is designed to provide relief to small taxpayers from the burden of complying with the complex tax laws. Under this scheme, taxpayers are allowed to declare their income based on a presumptive income, which is determined by the tax authorities based on certain presumptions about the taxpayer’s income and expenses.
Taxpayers opting for presumptive taxation schemes can enjoy relief from accounting and auditing with the Income-tax Act. Learn what sections 44AD, 44ADA, and 44AE have in store for you.
Whether Remission Of Trading Liability Separately Taxable Where Income From Business Has Been Declared On Presumptive Basis U/S 44AD, 44ADA Or 44AE of Income Tax Act, 1961
