If the professional receipts of a person are more than Rs. 50 Lakhs – the benefit of Presumptive Tax under Section 44ADA cannot be taken. In such a case, the person would be required to prepare a Profit & Loss...
Section 44AD & 44ADA: Presumptive Taxation in 2023 Read More
To reduce the burden of compliance of small taxpayers, the govt provides for a scheme of Presumptive Taxation which is very easy to understand and comply with. Under the scheme of Presumptive Taxation, the small taxpayers are not required to...