Presumptive Taxation Scheme

By | July 3rd, 2017|Categories: ITR Filing, Tax Audit|

Presumptive Taxation Scheme is a scheme for small taxpayers where they can opt for the scheme and declare income at a prescribed rate and he is also relieved from maintaining the books of accounts. There are three sections under Presumptive Taxation Scheme: Section 44AD- For Small Business If an individual is running a small business and [...]

Income Tax Audit: Limit, Due Dates, Penalty, Auditor Appointment Income Tax Audit is basically an assesment / review of the accounts of any business/ profession with regards to the payment of Income Tax . Let's look at income tax audit limit and other details due date etc.

By | June 29th, 2017|Categories: ITR Filing, Tax Audit|Tags: , , , , , , , , , , , , , , , , , |

Tax Audit Before we dive into the specifics of the tax auditing and taxation related details, let's just take a step back and look at what an audit means. 'Audit' essentially means an inspection of the accounts of a particular organization especially by an outside independent third-party.  In this piece, we're going to look at tax audit and [...]