Tag Archives: Section 44ad income tax

Section 44AD Income Tax I Presumtive Taxation Scheme & ITR 4 I Complete Knowledge

By | October 19, 2021

Section 44AD Income Tax I Presumtive Taxation Scheme & ITR 4 I Complete Knowledge CA Satbir Singh   In this video you will learn about Setion 44AD of Income tax act . Income tax Act provides presumptive income scheme for small taxpayers to lower compliance cost. In this scheme only specified Percentage ( 8% or… Read More »

8% Income can not be estimated u/s 44AD for Partners Remuneration from Firm: ITAT

By | March 2, 2019

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that a partners’ remuneration from the Firm shall not be subject to the application of presumptive interest rate under section 44AD of the Income Tax Act. The assessee received remuneration and interest from partnership firms namely M/s. Kumbakonam Jewellers, M/s. ANS… Read More »

Presumptive taxation u/s 44AD Income Tax: Audit Limit w.e.f AY 2017-18

By | June 21, 2018

Presumptive taxation u/s 44AD Income Tax: Audit Limit w.e.f AY 2017-18 CIRCULAR No. 2/2018 Dated 15.02.2018 23. Exclusion of certain specified person from requirement of audit of accounts under section 44AB. 23.1 The provisions of section 44AB of the Income-tax Act provide inter alia that every person carrying on the business is required to get his… Read More »

Section 44AD : Income Tax Rates if sales in Digital mode w.e.f AY 2017-18

By | February 20, 2018

CIRCULAR No. 2/2018 Dated 15.02.2018 24. Measures for promoting digital payments in case of small unorganized businesses. 24.1 The provisions of section 44AD of the Income-tax Act provide inter alia for a presumptive income scheme in case of eligible assesses carrying out eligible businesses. Before amendment by the Act, under this scheme, in case of an… Read More »