Income Tax : Understand every reporting requirement under Form 3CD as amended by the Finance Act, 2026. This guide explains clause-wise disclos...
Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...
Income Tax : This guide explains the presumptive taxation schemes available under the Income-tax Act, including Sections 44AD, 44ADA, and 44AE....
Income Tax : This guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and i...
Income Tax : The Income-tax Act provides presumptive taxation schemes under Sections 44AD, 44ADA, and 44AE to reduce compliance burdens by allo...
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 : ITAT Delhi set aside the assessment after finding that the assessees additional evidence had not been properly scrutinized by the ...
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 clarified that even where the assessee owns more than ten trucks, Section 44AE can be used as a fair yardstick for in...
Income Tax : The assessee challenged jurisdiction for lack of notice under Section 143(2). The Tribunal held that once the belated return was i...
Income Tax : Andhra Pradesh held that neither the State Legislature nor the Central Legislature would have power, to levy tax on the sale of go...
Income Tax : Which of the following has to be considered while calculating the presumptive income under section 44AE of the Income-tax Act.1961...
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 implications of Section 43B(h) of the Income Tax Act, 1961, on timely payments to MSMEs. Learn about benefits, applicability, due dates, and exceptions.
ITAT Jodhpur rules that possession of transport vehicles is sufficient for Section 194C TDS exception, emphasizing the significance of beneficial ownership.
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.
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.
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.
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.
