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Assessments under the Income-tax Law
Computation of Tax
Tax on Presumptive Taxation Scheme
- What is the manner of computation of taxable business income under the normal provisions of the Income-tax Law, i.e., in case of a person not adopting the presumptive taxation scheme of section 44AD?
- Can a person whose total turnover or gross receipts for the year exceed Rs. 2,00,00,000 adopt the presumptive taxation scheme of section 44AD?
- Can a person engaged in a profession as prescribed under section 44AA(1) adopt the presumptive taxation scheme of section 44AD?
- Can an insurance agent adopt the presumptive taxation scheme of section 44AD?
- Which businesses are not eligible for presumptive taxation scheme?
- Who is eligible to take advantage of the presumptive taxation scheme of section 44AD?