Section 44ADA of the Income Tax Act, 1961, provides a simplified scheme of taxation for professionals. It allows eligible ...

Small businesses and professionals with turnovers up to ₹2 crore and ₹24 lakh see an opportunity to pay zero tax through the ...

In India, small and medium enterprises are the economy’s backbone. As more of them get formalized, tax has become a duty and a privilege. However, most MSMEs and small businesses do not take advantage ...

Taxpayers will soon be able to file their income tax returns for the recently concluded financial year. The online portal is ...

Adding further, many senior citizens mistakenly assume that filing returns isn't necessary if tax is already deducted at source (TDS) on their income. However, this is incorrect.

Senior citizens, defined as those over 60, can enjoy a basic exemption limit of Rs 3 lakh under the Income-Tax Act, 1961, while super senior citizens ... catering to presumptive taxation under ...

If you are an income taxpayer and want to compute your total tax payable for the financial ... under presumptive income under sections 44AD and 44ADA. VIII. The income under the head of other ...

Senior citizens can avail several concessions under the Income Tax Act and might be wholly exempt ... to presumptive taxation under sections 44AD and 44ADA.

Senior citizens, defined as those over 60, can enjoy a basic exemption limit of Rs 3 lakh under the Income-Tax Act, 1961 ... taxation under sections 44AD and 44ADA. Each form addresses distinct ...