Section 44ADA: Presumptive Taxation for Profession

In the Budget of 2016, the Finance Minister introduced the presumptive taxation scheme tailored for specific professionals, outlined under Section 44ADA of the Income Tax Act. Starting from the fiscal year 2016-17

Section 44AD: Presumptive Taxation for Business

Under Section 44AD, businesses with a turnover of up to INR 3 Crore are eligible to avail the benefits of presumptive taxation. This scheme offers a simplified method for calculating taxable income,