Wednesday, 21 December 2016

Going Digital can cut your Taxes

Government has made its mind Reduce Existing Rate of Deemed Profit u/s 44AD from 8% to 6% in respect of amounts/receipts through banking channel/digital

As per latest CBDT Press Release dated 19-12-2016:

 Under the existing provisions of section 44AD of the Income-tax Act, 1961 (the Act), in case of certain assesses (i.e. an individual, HUF or a partnership firm other than LLP) carrying on any business (other than transportation, agency, brokerage and commission) and having a turnover of Rupees Two Crore or less, the profit is deemed to be 8% of the total turnover.


Is your consultant Not providing you userID and password of GST? Here is the solution!!

Complaints are being received from taxpayers that the intermediaries who were authorized by them to apply for registration on their beha...