Section 44AD of the Income Tax Act: Presumptive Taxation Scheme for Small Businesses Section 44AD is a special provision under the Indian Income Tax Act

Under Section 44AD of the Income Tax Act, taxpayers who opt for the presumptive taxation scheme are not required to maintain detailed books of accounts

The Annual Information System (AIS) is designed to capture various high-value transactions and income data. The thresholds for AIS reporting are typically set by the

Section Exempt Income Conditions 10(1) Agricultural Income Income from agricultural activities on land in India. 10(2) Share of income from HUF Income must be derived

The Income Tax Act, 1961 provides a simplified taxation scheme known as Presumptive Income Scheme under certain sections. These provisions allow eligible taxpayers, mainly small

The Income Tax Act, 1961 classifies taxpayers, also known as “assesses,” into various types based on their legal status and tax liability. Each type of

Here’s a detailed list of all the sections and subsections related to Section 54 of the Income Tax Act, 1961, which deal with exemptions from

Here’s a detailed list of all the major deductions available for income taxpayers in India under the Income Tax Act, 1961: 1. Section 80C –

Tax Deducted at Source (TDS) in India is a system under the Income Tax Act, 1961, where the person responsible for making certain payments deducts