Tag - 44ad vs 44ab quora

Tax Audit & The Presumptive Taxation

Section 44AB vs 44AD Tax Audit & The Presumptive Taxation: When we talk about Presumptive Taxation, then it automatically relates to Tax Audit under Income Tax Act, 1961. At student level, I have seen students getting confused in Sections 44AB & 44AD because 44AB says about the limit of Rs. 1 crore while Section 44AD says about the limit of Rs. 2 crore. Don’t worry; today your doubt is going to be resolved permanently.   Let’s begin: Tax Audit comes under the purview of [...]

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