TAX
Presumptive Tax Scheme in India – A Deep Dive
Presumptive Tax was first introduced in 1994 to estimate taxable income from the supply of labour for civil construction work or from construction businesses.
September 21, 2022
Presumptive Tax was first introduced in 1994 to estimate taxable income from the supply of labour for civil construction work or from construction businesses.
Key points that an individual/HUF needs to consider while claiming medical expenses in the income tax return.
Read the analysis and implications of the legal contentions discussed in the notable judgment of Leena Power Tech Engineers Pvt Ltd.
This summarizes the key Notifications and Circulars issued by the CBDT, extending the due dates of various direct tax compliances under the Act:
The CBDT vide notification dated 02.07.2021 has inserted a new sub-rule 5 under Rule 8AA of the Income-tax Rules, 1962 and also notified Rule 8AB, which deals with the attribution of income taxable under section 45(4) of the Act