https://www.taxtmi.com/forum/issue?id=113433 Presumptive taxation under section 44AD allows eligible small businesses to declare income as a fixed percentage of turnover and to file ITR-4S with relaxed bookkeeping; it is not a protective discount slab. While the scheme prescribes a presumptive computation (six percent for digital receipts as discussed), tax authorities retain assessment powers to examine unexplained bank deposits or investments. Applicability is limited to businesses meeting the turnover threshold and other statutory conditions, providing simplified computation and recordkeeping but not immunity from scrutiny. en-us Sun, 25 Feb 2018 20:52:43 +0530 Thu, 23 Jan 2025 15:55:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113433 Presumptive taxation under section 44AD allows eligible small businesses to declare income as a fixed percentage of turnover and to file ITR-4S with relaxed bookkeeping; it is not a protective discount slab. While the scheme prescribes a presumptive computation (six percent for digital receipts as discussed), tax authorities retain assessment powers to examine unexplained bank deposits or investments. Applicability is limited to businesses meeting the turnover threshold and other statutory conditions, providing simplified computation and recordkeeping but not immunity from scrutiny. Discussion-Forum Income Tax Sun, 25 Feb 2018 20:52:43 +0530 https://www.taxtmi.com/forum/issue?id=113433