Section 44ADA of income tax act provides that income of an assessee, engaged in profession referred u/s 44AA shall be calculated on estimated basis at sum equal to 50% of the total gross receipt. What is section 44ADA of income…
Section 37 of income tax act general Deduction allowed for business and profession. Contents 1. Overview of section 37 of income tax act? 2. What are the conditions required to be satisfied to claim deduction under section 37 of income…
Section 40A(3) of income tax act state amount not deductible in respect of expenditure exceeding Rs. 10,000. What is section 40A(3) of income tax act? It means if assessee incurs any expenditure in respect of which payment in excess of…
Section 44AD of income tax act states that tax will be charge on the basis of presumptive income of business. Section 44AD is a special provisions for computing profits & gains of business on presumptive basis. What is Section 44AD…
Section 43B of income tax act provides certain expenses are allowed on actual payment basis. It means expenses are not allowed on due basis but allowed when actual payment is made. What is section 43B?? Section 43B deals with specified…