Web2. That the learned Pr. Commissioner of Income Tax has erred in reopening the case of assessee U/s 263(1) of the Income Tax Act, 1961.” 5. Heard and perused the record. 6. The ld AR contended that the ld AO had conducted a detailed enquiry/ scrutiny in regard to issues examined by the ld Pr. CIT while exercising powers u/s 263 of the Act. Web8 Feb 2024 · Section 44ADA of Income Tax Act: Budget 2024 update The presumptive taxation limit under Section 44ADA has been revised for FY 2024 in Union Budget 2024. This limit has been increased from Rs 50 lakh to Rs 75 lakh, provided that 95% of the gross receipts are through online modes. Section 44ADA of Income Tax Act: Key objectives
Section 44ADA – Presumptive Tax Scheme for …
Web31 Aug 2024 · From the reading of provisions of the sec 44AD(5), it is concluded that there are two conditions of sec 44AD(5) of the Act. The first is regarding applicability of provisions of sec 44AD(4) of the Act and the second is that the income of assessee is more than the basic exemption limit. These both conditions are connected with word “and”. WebAfter section 44AD of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2024, namely:— ... and whose total income exceeds the maximum amount which is not chargeable to income-tax, shall be required to keep and maintain such books of account and other documents as required under sub-section (1 ... diall bath and wall sealing strip
Sec 44AD of Income Tax Act Presumptive Business Income
WebThis appeal by the Revenue under Section 260A of the Income Tax Act, 1961 (‘Act’ in short) relates to assessment year 2009-10. 2. The assessee had filed return for the said year on … Web4 Mar 2024 · Section 44AD covers all the business people to pay tax on presumptive income basis but it excludes people who are engage in plying, hiring or leasing of such goods … Web📍In this video we have discuss about the Sec 44AD of Income Tax Act,1961 in detail.📍 Sub section 5 of Sec 44AD - (5) Notwithstanding anything contained in ... cinthol cool deo soap wth menthol125gx3n