Articles in this section

• What provisions will apply if a person does not opt for the presumptive taxation scheme of section 44AE and declares his income at a lower rate?​​​
• If a person adopts the presumptive taxation scheme of section 44AE, then is he liable to pay advance tax in respect of income from business covered under section 44AE?
• If a person adopts the presumptive taxation scheme of section 44AE, then is he required to maintain books of account as per section 44AA?​​​
• As per the presumptive taxation scheme of section 44AE, income of a taxpayer will be computed at the rate of Rs. 7,500 per goods vehicle per month and in such a case can the taxpayer claim any further deductions from the presumptive income declared?​​​
• What is the manner of computation of taxable business income in case of a person adopting the presumptive taxation scheme of section 44AE?
• Can a person who owns more than 10 goods vehicles adopt the presumptive taxation scheme of section 44AE?​​​
• Who is eligible to take advantage of the presumptive taxation scheme of section 44AE and which business is eligible for the presumptive taxation scheme of section 44AE?​​​
• For whom the presumptive taxation scheme of section 44AE is designed?
• What provision will apply if a person opt for the presumptive taxation scheme of section 44ADA and declares his income from profession at lower rate (i.e. less than 50%)?
• If a person adopts the presumptive taxation scheme of section 44ADA, then he is required to maintain books of account as per section 44AA?