Presumptive Taxation U/S 44AD Simplified Businesses have been grown over the period of time due to general growth of the economy and varied other reasons. But at the same time various numbers of business and service providers, irrespective of their area of operations, earning substantial income are outside the tax net as Presumptive Taxation.
Tag Archives: Income Tax updates
What happens if you miss the deadline to file tax returns? If you miss the deadline to file your income tax return (ITR) in India, you face several financial and legal consequences, ranging from late fees and interest to the loss of specific tax benefits. 1. Late Filing Fees (Section 234F) You can still file […]