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income tax Archive

Section 44AD ( presumptive taxation): The ultimate guide

Section 44AD provides special provisions to compute business profit at presumptive basis. Section 44AD has five sub section. Understanding of each one is necessary.Section 44AD is used many assessee while showing business profit. If you are one of them, please read carefully the important points about section 44AD applicability. Definition of section 44AD as

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7 Benefits of filling income tax return

Yesterday my client asked me the question about benefits of filling income tax return.He was arguing, ” I am salaried employee and his income is less than Rs. 5 lakhs and TDS is already deducted. So there is no need to file income tax return.”I have explained some points to him which I have

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