Traders declaring business or F&O income below 6% of their turnover may face a mandatory tax audit. This rule applies even if turnover is b...

In its Tax Policy Working Paper Series -1: Enhancing Certainty, Transparency and Uniformity in Permanent Establishments and Profit Attribut...

"Extending the presumptive taxation scheme to certain non-residents is a strategic step to incentivise foreign participation in India's gro...

The February 1 budget may expand the presumptive tax regime to include sectors like data centres, AI, and green technology, raising the tur...

Interim Budget 2024: Perhaps no one knows more than the government that certain popular announcements involving little sacrifice of revenue...

The Budget 2023 has proposed many changes in the new tax regime and presumptive taxation scheme. The proposed changes have asked the indivi...

Earlier MSMEs with annual turnover up to Rs.2 crore and Professionals with income up to Rs.50 lakh were allowed to go for presumptive taxat...

The government has amended various provisions of the Income-tax Act to make it business-friendly for smal businesses and professionals. How...

Partnership structures, which are considered effective for taxation purposes, are set to attract the tax department’s attention after the M...

FAITH has asked to have a GST rate of 5% closest to the current rate and if not possible then 12% for rent a cabs.

Fox News, in its latest national polls, found that Trump has the support of 45% of the potential general election votes, while Clinton has ...

As regards corporates, the Revenue Department has lowered the corporate tax rates to 25 per cent for new manufacturing companies.

To further keep the compliance burden minimum, those using presumptive taxation scheme are also allowed to pay advance tax by March 15 of t...

Professionals will now be able to file taxes via a simpler ITR-4S form instead of the lengthier ITR 4.

In order to reduce SME's administrative burden and compliance costs, there is a special provision under the Income Tax Act, 1961, which hel...

Small businesses having a turnover of up to Rs 1 crore could see a substantial reduction in their tax liability and compliance costs once t...

NEW DELHI: In what may turn out to be Yashwant Sinha's first tax proposal roll back, the Finance Ministry is reconsidering the hike in pres...