As per the Income-tax Act, a person engaged in business or profession is required to maintain regular books of account and further, he has to get his accounts audited. To give relief to small business man, the presumptive taxation scheme under sections 44AD, 44ADA and 44AE was framed by the Income Tax department. We will discuss Section 44AD in this blog today.
Presumptive Taxation (Section 44AD)
Presumptive Taxation (Section 44AD)
Presumptive Taxation (Section 44AD)
As per the Income-tax Act, a person engaged in business or profession is required to maintain regular books of account and further, he has to get his accounts audited. To give relief to small business man, the presumptive taxation scheme under sections 44AD, 44ADA and 44AE was framed by the Income Tax department. We will discuss Section 44AD in this blog today.