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Audit exemption for presumptive taxation: taxpayers declaring under the presumptive regimes are excluded from mandatory audit. The first proviso to section 44AB is substituted to exclude from its operation a person who declares profits and gains under the presumptive taxation provisions for business or for professionals; the change takes effect from 1 April 2024 and applies to the relevant assessment year and subsequent years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Audit exemption for presumptive taxation: taxpayers declaring under the presumptive regimes are excluded from mandatory audit.
The first proviso to section 44AB is substituted to exclude from its operation a person who declares profits and gains under the presumptive taxation provisions for business or for professionals; the change takes effect from 1 April 2024 and applies to the relevant assessment year and subsequent years.
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