Section 44DB: Business Re-organization of Co-operative Banks: Predecessor co-operative bank & Successor co-operative bank shall be entitled to deduction u/s 32,35D,35DD and 35DDA in the previous year in which change of ownership…
Category: Profit or gain from Business/Profession.
Section 42: Insertion of New Section of Income Tax Act, 1961
Section 42: Special provisions for deduction in case of business for prospecting etc. for mineral oil: Any person carrying on the business of Prospecting or extraction or production of mineral oil (including…
Section 44C: Deduction of Head Office Expenditure for NRI’s
Section 44C of Income Tax Act: In case of a foreign company, which operates directly in India, and has a branch office or other presence, which constitutes a Permanent Establishment, of the…
NRI’s Presumptive Taxation For Income From Shipping Business
Section 44B of Income Tax Eligible Assessee: As per the provision of section 44B of income tax, this section is applicable to any Non-Resident engaged in business of operations of shipping business….
Insertion of New Section 44BB of Income Tax Act, 1961
Section 44BB of Income Tax Act 1961: Eligible Assessee: This section is applicable to Non-resident (Indian citizen or foreign citizen). Eligible Business: Where a non-resident can opt for the presumptive tax provisions…
Insertion of New Section 44BBB of Income Tax Act, 1961
Section 44BBB of Income Tax Act, 1961: Eligible Assessee: As per the provision of section 44BBB of income tax, it is applicable to a foreign company. Eligible Business: A foreign company, which…
Complete Analysis of Section 44BBA of income Tax Act
Section 44BBA of income Tax: Eligible Assessee: As per the provision of section 44B of income tax, this section is applicable to any Non-Resident engaged in business of operations of aircraft business….
Complete Analysis on Section 44A of Income Tax Act:
Section 44A of Income Tax: No person can trade with himself and make an assessable profit. If different persons combine themselves into a distinct and separate legal entity for the purpose of…
Tax on Royalties & Fees For Technical Services For Non-Residents
Section 44DA of Income Tax Act: Eligibility Criteria: Non-resident Indians, non-corporates and foreign companies are eligible under Section 44DA. If a non-resident earns income in the form of royalties or FTS (Fee…
Section 44AD: Presumptive Taxation Scheme for Business/Traders
Eligibility Assessee: As per the provision of section 44AD, it is applicable to Resident Individual/Resident HUF/Resident firm (excluding Limited Liability Partnership Firm) who has not claimed deduction u/s 10AA or 80IA to…
Presumptive Taxation Scheme for Professionals u/s 44ADA
Sec. 44ADA: PGBP on Presumptive Basis for Professional Eligible Assessee: As per the provision of section 44ADA of income tax, it is applicable to Resident Individual or resident firm (excluding Limited Liability…
Presumptive Taxation for Transporters Under Section 44AE
Section 44AE: Presumptive Taxation for Transporters: The presumptive income scheme under Section 44AE of the Income Tax Act, 1961 is applicable to all categories of taxpayers who is engaged in the business of…
Section 44AE: Presumptive Taxation for Transporters: [Latest]
Section 44AE: Presumptive Taxation for Transporters: The presumptive income scheme under Section 44AE of the Income Tax Act, 1961 is applicable to all categories of taxpayers who is engaged in the business of…
Presumptive Tax Scheme for Professionals Under Section 44ADA
Sec. 44ADA: PGBP on Presumptive Basis for Professional Eligible Assessee: As per the provision of section 44ADA of income tax, it is applicable to Resident Individual or resident firm (excluding LLP) engaged…
Presumptive Taxation for Business Under Section 44AD
Eligibility Assessee: As per the provision of section 44AD, it is applicable to Resident Individual/Resident HUF/Resident firm (excluding LLP) who has not claimed deduction u/s 10AA or 80IA to 80RRB. This section…
