Tag Archives: sections 44AE

Presumptive taxation scheme of Income Tax

By | September 17, 2015

Presumptive taxation scheme of Income Tax 1961 What is the meaning of presumptive taxation scheme?  As per sections 44AA of the Income-tax Act, 1961, a person engaged in business is required to maintain regular books of account under certain circumstances. To give relief to small taxpayers from this tedious work, the Income-tax Act has framed… Read More »