TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Act 2016 amends Section 44AB: Threshold raised, 'business' changed to 'profession,' new clause for Section 44AD(4).</h1> Section 44AB of the Income-tax Act was amended by the Finance Act, 2016, effective April 1, 2017. The amendment increased the threshold in clause (b) from twenty-five lakh rupees to fifty lakh rupees. In clause (d), the term 'business' was replaced with 'profession,' and references to section 44AD were updated to section 44ADA. Additionally, the words 'previous year' were modified to 'previous year; or.' A new clause (e) was inserted, requiring businesses subject to section 44AD(4) to comply if their income exceeds the non-taxable limit in any previous year.
TaxTMI 
TaxTMI 
