October 5, 2019

Presumptive taxation under Section 44AE For those who are in the business of plying, leasing or hiring of trucks a scheme similar to presumptive income scheme under section 44AD is available. Eligibility Criteria: You should be in the business of plying, leasing or hiring goods carriages. You should not own more than 10 goods carriages […]

Presumptive Income & its Taxation – under section 44AD The Income Tax Department has laid out some simple provisions, where your income is assumed based on the gross receipts of your business. This method is called the presumptive method, where tax is paid on an estimated basis. Features of this Scheme a. Your Net Income

Presumptive taxation under Section 44ADA The benefit of Presumptive tax rates was only available to businesses. But now this benefit has been extended to professionals also. Presumptive taxation is applicable to the professionals, whose total gross receipts does not exceed Rs 50 lakhs in a financial year. Presumptive Tax Rate: The income of the professionals

How to pay your income tax online? If you are a salaried individual, your employer probably might have deducted the your income tax dues you via TDS. If you are self-employed or have income beyond salary (such as rental income), the taxes deducted at source may not be enough for your income tax payment. What