Presumptive Taxation Scheme Under Income Tax – Some Important FAQs

Presumptive Taxation Scheme What is the Meaning of Presumptive Taxation Scheme? As per sections 44AA of the Income-tax Act, 1961, a person engaged in business or profession is required to maintain regular books of account under certain circumstances. To give relief to small taxpayers from this tedious work, the Income-tax Act has framed the presumptive taxation scheme […]