https://www.taxtmi.com/acts?id=48268 Sections 44AD and 44AE introduce presumptive taxation: 44AD deems profits of civil construction and labour-supply businesses to be a fixed proportion of gross receipts (with an applicability ceiling), treats specified deductions and depreciation as already allowed, excludes such businesses from sections 44AA/44AB, and permits evidence to show lower actual profits for assessment. 44AE applies a per-vehicle monthly deemed-income method for owners of up to ten goods carriages (with distinct rates for heavy and other vehicles), carries identical deemed-deduction and WDV rules, excludes those businesses from 44AA/44AB, and allows proof of lower profits; Motor Vehicles Act definitions and hire-purchase ownership are adopted. en-us Thu, 30 Jan 2025 12:55:48 +0530 Thu, 30 Jan 2025 12:55:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48268 Sections 44AD and 44AE introduce presumptive taxation: 44AD deems profits of civil construction and labour-supply businesses to be a fixed proportion of gross receipts (with an applicability ceiling), treats specified deductions and depreciation as already allowed, excludes such businesses from sections 44AA/44AB, and permits evidence to show lower actual profits for assessment. 44AE applies a per-vehicle monthly deemed-income method for owners of up to ten goods carriages (with distinct rates for heavy and other vehicles), carries identical deemed-deduction and WDV rules, excludes those businesses from 44AA/44AB, and allows proof of lower profits; Motor Vehicles Act definitions and hire-purchase ownership are adopted. Act-Rules F. Acts / Amendment Acts Thu, 30 Jan 2025 12:55:48 +0530 https://www.taxtmi.com/acts?id=48268