Below Segment 44AD of presumptive taxation, tiny taxpayers with lower than Rs two crore of turnover usually are not required to keep up publications of accounts and their earnings are presumed to get 8% of their turnover.

No, it is not Obligatory to choose Portion 44AE, it is actually optional, if you decide for standard provisions, You then might require to take care of publications of accounts and get the same audited.

can avail the main advantages of the plan of presumptive taxation beneath Part 44AD supplied yearly turnover or gross receipts isn't going to exceed the above mentioned talked about prescribed limit inside the previous monetary yr.

Presumptive taxation scheme relieves smaller taxpayers from keeping frequent guides of account and have them audited. Threshold restrictions beneath 44AD and 44ADA increased in Budget 2023.

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Certainly, you'll be able to decide both Portion 44AD and Part 44ADA together, Should you have earnings from business enterprise and also specified gurus.

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