What is the presumptive taxation scheme of Section 44ADA applicable for?
Section 44ADA The Presumptive Taxation Scheme under Section 44ADA of the Income Tax Act, 1961, was introduced to simplify the tax compliance process for small professionals and to reduce their tax burden. This scheme is specifically designed for individuals. Hindu Undivided Families (HUFs), and partnership firms engaged in specified professions. It allows eligible taxpayers to… Read More »
