Articles in this section

• 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?​​​
• 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?
• If a person adopts the presumptive taxation scheme of section 44ADA, then is he liable to pay advance tax in respect of income from profession covered under section 44ADA?
• Who is eligible to take advantage of the presumptive taxation scheme of section 44ADA?
• If a person adopts the presumptive taxation scheme but he opts out from the scheme in any of the subsequent five years, then what are the consequences?
• If a person adopts the presumptive taxation scheme of section 44AD, then is he required to maintain books of account as per section 44AA?​​​​
• ​As per the presumptive taxation scheme of section 44AD, income of a taxpayer will be computed @ 8%/6% of the turnover or gross receipt and from such income can the taxpayer claim any further deductions?​​​​