Section 44AD, Income Tax Act, 1961 (Presumptive Taxation Scheme) Section – 44AD, Income-tax Act, 1961-2018 is covered under Presumptive Taxation Scheme. The section 44AD is introduced by the government to provide the relief to the small taxpayers. Section 44AD is majorly used by the businesses.
Calculation Under Section 44AE under Presumptive Taxation Section 44AE of Income Tax Act provides the Presumptive Scheme for the business of plying, hiring or leasing of goods carriages. The person should not own more than the 10 goods carriage vehicle in the previous year. The calculation
FAQs On Section 44AE under Presumptive Taxation To provide the relief to the small taxpayers, the government has issued the presumptive scheme. Because the maintaining the books of accounts is very tedious work for the small taxpayers. It consumes extra money to be efficient. So,
FAQs on Section 44AD under Presumptive Taxation To provide the relief to the small taxpayers, the government has issued the presumptive scheme. Because the maintaining the books of accounts is very tedious work for the small taxpayers. It consumes extra money to be efficient. So,
Notification No. 55/2018 –Customs GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 55/2018 –Customs New Delhi, the 26th July 2018 G.S.R……(E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section
FAQs on section 44AD under Presumptive Taxation To provide the relief to the small taxpayers, the government has issued the presumptive scheme. Because the maintaining the books of accounts is very tedious work for the small taxpayers. It consumes extra money to be efficient. So,
Comparison of sections 44AD, 44ADA, and 44AE under Presumptive Taxation In the income tax law, there are various methods for calculating the incomes for an assessee. It also provides the taxpayers with the option of Presumptive taxation. Which allows the taxpayer to pay the tax
Format and salient features of GSTR Sahaj: Who can file the GSTR Sahaj? Ans: A taxpayer having B2C only supplies can file GSTR Sahaj. A taxpayer can choose the option to file it monthly or quarterly. So a small taxpayer can choose a quarterly option. 2.
Amendments in GST Laws (CGST Act, 2017, IGST Act, 2017 and the GST (Compensation to States) Act, 2017) GST Council has reviewed 46 proposed amendments in CGST Act, 2017, IGST Act, 2017 and the GST (Compensation to States) Act, 2017 and has recommended the following
About Presumptive Basis Income Under Section 44AD and Section 44ADA under Income Tax Act Section 44AD If the Assessee adopts/choose ITR under section 44AD then he has to file ITR under this for consecutive 5 years. Otherwise, for example, if assessee file ITR under this
