A Complete Guide to Tax Compliance under Sections 44AD and 44ADA: Audits, Eligibility, Filing, and Profit Calculation

For small businesses and professionals, tax season can feel overwhelming, with countless forms, financial records, and compliance requirements. Sections 44AD and 44ADA of the Indian Income Tax Act offer a simplified route through presumptive taxation—an approach that saves time and effort while making tax compliance more accessible. This guide will […]

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Simplifying Taxes with Sections 44AD and 44ADA: A Practical Guide for Small Businesses and Professionals

If you’re a small business owner or self-employed professional, you’ve likely felt overwhelmed by the paperwork and compliance demands that come with tax season. India’s Income Tax Act recognizes this struggle, and Sections 44AD and 44ADA offer a much-needed break. These sections introduce presumptive taxation schemes—a simplified way to handle […]

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A Complete Guide to Sections 44AD and 44ADA: Simplified Taxation for Small Businesses and Professionals

Navigating tax laws can be complicated, especially for small businesses and self-employed professionals who often lack the resources to maintain detailed accounts. To support this segment, the Indian Income Tax Act offers simplified tax filing through presumptive taxation schemes under Sections 44AD and 44ADA. These sections help eligible taxpayers save […]

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A Comprehensive Guide to Sections 44AB, 44AD, and 44ADA

For many small business owners and professionals, tax compliance can be a daunting task, filled with complex calculations and legal jargon. Fortunately, the Indian Income Tax Act has provisions that make tax compliance easier and more straightforward through presumptive taxation schemes. Sections 44AB, 44AD, and 44ADA specifically target small businesses […]

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CBDT Extends Due Date for Audited IT Returns for AY 2024-25 to 07th Nov 2024

In a welcome relief to businesses and tax practitioners, the Central Board of Direct Taxes (CBDT) recently issued Circular No. 13/2024, announcing an extension of the income tax return (ITR) filing deadline for Assessment Year (AY) 2024-25. This decision comes amid growing concerns from corporate entities and auditors facing tight […]

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50 Powerful ChatGPT Prompts for Stock Research for any Company

Here are 21 powerful ChatGPT prompts for conducting comprehensive stock research on any company. These prompts cover various aspects, from financial analysis and market positioning to management evaluation and competitor analysis: 1. Company Overview “Provide a detailed overview of [Company Name], including its history, business model, and key revenue-generating segments.” […]

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Form 12BAA and New TDS Rules for Salaried Individuals | What’s Changing from October 2024?

The Government of India has introduced significant changes to the tax system starting from October 2024, which are set to impact salaried individuals. These updates include modifications in tax deduction rules, Tax Deducted at Source (TDS) rates, and related forms such as Form 12BAA. This comprehensive guide will help salaried […]

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Recent Changes in Reverse Charge Mechanism (RCM) under GST (Effective November 2024)

The Goods and Services Tax (GST) system in India has undergone significant updates to keep up with the evolving economy and improve revenue collection. One major change effective from November 2024 involves the Reverse Charge Mechanism (RCM). This change brings a new set of rules, primarily affecting commercial property rentals, […]

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Protean eGov Technologies Ltd: Company Stock Analysisc

Protean eGov Technologies Ltd (Protean) is a leading provider of technology solutions, playing a key role in India’s e-governance and “Digital India” initiatives. The company commands a strong market presence across various sectors, particularly in tax infrastructure, where it holds over 60% market share in TIN/PAN issuance. In the retirement […]

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