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SECTION 44ADA
Income tax return AY 26-27: Excel utility, online filing for ITR-1, and ITR-4 forms now available on e-filing portalIncome tax return AY 26-27: The Income Tax Department has launched Excel utilities and online filing for ITR-1 and ITR-4 for the Assessment...- Key changes in ITR 1, 2, 3 and 4 forms in FY 25-26: Reporting of LTCG, buyback losses, F&O, intra-day trading & more; what new forms includeThe Income Tax Department has revised ITR forms for FY 2025-26, introducing new disclosure requirements for capital gains, trading, and for...
- Earn Rs 75 lakh, pay tax on Rs 37.5 lakh: how doctors and lawyers are doing it the legal way
- Rs 13 lakh cash payment for credit card bill triggers tax notice; man wins case after ITAT accepts ‘family gift’ explanationA Mumbai man faced a tax notice for using Rs 13 lakh cash to pay his credit card bill. He explained the cash as gifts from his wife, father...
- From ₹1K gigs to ₹70 lakh hustle: Techie quits moonlighting to reclaim LifeA young platform engineer from a tier-3 college revealed his intense moonlighting journey, juggling two remote roles to earn Rs 70 lakh ann...
- You have pension income and consultancy income; here's the exact ITR form you should be filing
- Multiple income sources? Here’s how to legally lower your tax outgo
- I have pension and professional income as a consultant, should I file ITR under Section 44ADA to reduce income tax?ET Wealth Reader's Query: After retiring from a public sector bank, I transitioned to teaching at various MBA institutes in Mumbai and also...
- Presumptive Rules: Tax heat on content creators, consultantsThe Income-tax department is scrutinizing social media content creators, script writers, and consultants who have filed returns under Secti...
- Should you be a salaried person or consultant if your annual income is Rs 60 lakh?The Budget 2023 has proposed many changes in the new tax regime and presumptive taxation scheme. The proposed changes have asked the indivi...
- Presumptive taxation eligibility limits enhanced for professionals and MSMEsEarlier 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...
- Tax queries: How much of my gratuity amount is tax-exempt?The maximum limit amount of gratuity under the Payment of Gratuity Act, 1972 has been enhanced from Rs 10 lakh to Rs 20 lakh vide notificat...
- Tax queries: Can an HUF claim deduction u/s 80C for contribution made to PPF of its member?PPF account in the name of HUF is not permitted by the Finance Ministry, HUF can contribute to the PPF account of its members and claim tax...
- Tax queries: After resignation, interest on PF corpus is taxableDilip Lakhani, Senior Chartered Accountant, answers queries from our readers on income tax and other levies.
- CBDT releases ITR Form-4 for presumptive income from business and professionITR 4 is to be filed those individuals and HUFs who have opted for presumptive income scheme for income from business and profession in the...
- Tax queries: Presumptive tax only if income is below Rs 50 lakhEvery week, an expert selected by ET answers queries from our readers on income tax and other levies.
- 5 smart things to know about Section 44ADA of Income Tax ActProfessionals from the legal, medical, engineering, architectural, accountancy, tech consultancy, and interior decoration backgrounds can u...
- Tax queries: Does teaching profession qualify for presumptive taxation at 50%?The income received from the teaching profession or the activity of preparing content material is not covered under Section 44AA(1) of Inco...
- Tax queries: Is jewellery received as gift taxable?The gift received by your friend from his/her father is not chargeable to tax under the provisions of I-T Act in the hands of your friend.
- Budget 2016: Presumptive taxation regime for professionals introducedBudget 2016 proposes to introduce presumptive taxation regime for professionals which till now was for certain eligible persons engaged in ...
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