Section 44AE Presumptive Tax Scheme for Small Business of Goods Carriage

 Meaning of presumptive taxation scheme This presumptive scheme is designed to give ease to “small taxpayers” who engaged in the business of plying, hiring or leasing of goods carriages.. Various presumptive taxation schemes under Income Tax Act There are three types of taxation schemes in Income Tax Act: 1) Section 44AD – Presumptive taxation scheme…


Income Tax Amendments Applicable From 01.04.2017

Important Amendments in the Income Tax Act Applicable From 01.04.2017 The Finance Act, 2017, which has made a history of being a enacted law on 31st March, 2017 , has made far-reaching changes in Direct Taxes. Specially in case of provisions of cash transaction which are going to affect almost every person of the society…