Advance Tax What is Advance Tax? Advance Tax means paying tax in parts before the financial year ends, instead of waiting till you file your income tax return. That’s why it’s also called the “Pay as You Earn” sc...
Presumptive Taxation for Business What is Presumptive Taxation Under Section 44AD? Presumptive taxation is a simple tax scheme for small businesses. Instead of maintaining detailed books and accounts, eligible businesses can declare i...
Presumptive Taxation for Professsionals What is Section 44ADA? Section 44ADA is a simplified tax scheme for certain professionals like doctors, lawyers, architects, and consultants. Instead of maintaining detailed books and calculating ever...
Income Tax Return Do I Need to File My ITR? If you’re an individual or HUF, you must file your Income Tax Return (ITR) if any of the following conditions apply. Income Above the Basic Exemption Limit? Yes, you must fil...