https://www.taxtmi.com/article/detailed?id=8437 Presumptive taxation under Section 44AD provides a cash receipt based method for computing business income with reduced deeming rates for receipts through specified banking channels and higher rates for other receipts, subject to the overriding effect of ordinary profit determination provisions except where Section 43B applies. Amendments altered deductibility of partner remuneration, expanded turnover eligibility, imposed advance tax applicability, and linked any opt out from the regime to mandatory books and audit obligations for succeeding assessment years. Exclusions cover certain professions, commission, and agency businesses, and mixed activities can disqualify a taxpayer from the scheme. en-us Sat, 30 Mar 2019 05:59:50 +0530 Sat, 30 Mar 2019 05:59:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8437 Presumptive taxation under Section 44AD provides a cash receipt based method for computing business income with reduced deeming rates for receipts through specified banking channels and higher rates for other receipts, subject to the overriding effect of ordinary profit determination provisions except where Section 43B applies. Amendments altered deductibility of partner remuneration, expanded turnover eligibility, imposed advance tax applicability, and linked any opt out from the regime to mandatory books and audit obligations for succeeding assessment years. Exclusions cover certain professions, commission, and agency businesses, and mixed activities can disqualify a taxpayer from the scheme. Articles Income Tax Sat, 30 Mar 2019 05:59:50 +0530 https://www.taxtmi.com/article/detailed?id=8437