Post by: Renu Suresh in Income Tax
Section 44AE of Income Tax Act To simplify the complicated procedures of calculating business tax filing for small businesses or small assessees, the Presumptive Taxation Scheme was incorporated under the Income Tax Act, 1961. The section 44AE under this scheme…
Post by: Chris John in Government Initiatives Income Tax
Section 44AD of Income Tax According to Section 44AA of the Income Tax Act of 1961, an individual engaged in a business or profession is required to maintain regular books of account under the specified circumstances mentioned in the Act.…
Post by: Thushitha in Income Tax Personal Finance
Section 44ADA of Income Tax - Presumptive Taxation Section 44 ADA of the Income Tax Act is a new section added under the presumptive taxation scheme, which was introduced in the Income Tax Act with effect from 1 April 2017.…
Post by: IndiaFilings in Compliance Income Tax
Tax Audit - Meaning and Applicability A tax audit is an audit of books of accounts conducted for ensuring compliance with the provisions of the Income Tax Act. In the case of corporates, the Companies Act already mandates that an…
