tax on estimated income for individual partnership firm and huf

In presumptive taxation scheme, an individual, HUF and partnership firm is required to disclose certain percentage or amount as their income instead of actual profit or loss.We have following three sections under which presumptive business income can be calculated;Section 44AE - Applicable to the business of playing, hiring or leasing og goods carriage Section 44ADA - … [Read more...] about Presumptive taxation scheme for businesses – Section 44AD