presumptive taxation

  • Income Tax

50 % expenditure allowed from Consultancy services without proof of expenses

50 percent expenditure allowed from Consultancy services without proof of expenses in view of the provisions of section 44ADA ABACUS…

11 months ago
  • Income Tax

Penalty u/s 271AAB deleted as assessee declared income on presumptive basis

Income Tax Penalty u/s 271AAB deleted as assessee was declaring income on presumptive basis, was not required to maintain books…

1 year ago
  • Income Tax

Addition for cash deposit set aside as AO accepted turnover under presumptive taxation

Addition for cash deposit in bank set aside where AO accepted the turnover under presumptive taxation ABCAUS Case Law CitationABCAUS…

2 years ago
  • Income Tax

Presumptive tax u/s 44AE – No addition for cash deposit in bank out of business receipts unless rebutted

Presumptive tax u/s 44AE - No addition for cash deposit in bank made out of business receipts unless rebutted by…

4 years ago
  • Income Tax

Presumptive Tax 44AE-Heavy Vehicle weight to be used, gross, laden or unladen. CBDT clarification

Presumptive Tax u/s 44AE-Heavy Vehicle weight to be used, gross, laden or unladen. CBDT clarification for computing profits and gains…

5 years ago
  • ICAI

Presumptive Tax u/s 44ADA-reduce tax rate, increase threshold says ICAI

Presumptive Tax u/s 44ADA-reduce tax rate, increase threshold says ICAI in its Pre-Budget Memorandum-2019 on Direct Taxes and International Tax…

5 years ago
  • Income Tax

No further disallowance can be made when income is computed u/s 44AD – ITAT

No further disallowance when income is computed u/s 44AD. ITAT directs AO to make assessment u/s 44AD as desired by…

5 years ago
  • Income Tax

If books not maintained under presumptive section, cash deposit in bank correlates to turnover-ITAT

When assessee not maintained books of account and filed under presumptive section, cash deposit in bank were correlated to the…

5 years ago
  • Income Tax

Despite more than prescribed Trucks-income ordered to be computed u/s 44AE – ITAT Order

Despite more than prescribed Trucks-income computed u/s 44AE at rates prescribed in the section with benefits of salary & partner's…

7 years ago