Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights February 2023 Year 2023 This

Section 44BB and 44BBB - Benefit of opt-in or opt-out from ...

Income Tax

February 3, 2023

Section 44BB and 44BBB - Benefit of opt-in or opt-out from presumptive taxation to certain assessee has been now limiting through insertion of proviso for no set off of unabsorbed depreciation and brought forward loss.

View Source

 


 

You may also like:

  1. ICDS would apply to the taxpayers whose income is taxed under presumptive tax schemes (i.e. u/s 44AD, 44ADA, 44AE, 4BB, 44BBA, 44BBB) for limited purpose of...

  2. Presumptive income - enhancement of threshold limits - U/s 44AD if 95% of gross receipts and payments through no-cash mode than limit of presumptive taxation increased...

  3. Accrual of income in India - PE in India or not? - UK DTAA - Taxability of receipts from offshore supply on presumptive basis u/s 44BB - Dispute Resolution Panel (DRP)...

  4. Opting out of scheme of compound levy / composite method of taxation on ground of closure of business - scheme once opted can be withdrawn only within the framework of...

  5. Scope of Section 44BB - Service tax inclusion in the gross revenue for computing profits under presumptive provisions of section 44BB - The Hon’ble Court is clearly...

  6. Turnover limit for Composition Levy for CGST - Manufacturers of Certain Goods not eligible for benefit of Composition Scheme u/s 10(1) - Notification as amended

  7. Extension of stay already granted - Tribunal has power to extend stay after specified period - even after insertion of third proviso of sub-section (2A) of Section 35C...

  8. Scope of of Sections 44BB(1) and 44BB(2) - computation of the ‘presumptive taxable income’ - the amount reimbursed to the assessee (service provider) by the ONGC...

  9. Addition u/s 68 - assessee is not required to maintain proper books of accounts since he has opted for presumptive taxation u/s 44AD - Since the assessee is admittedly...

  10. Unexplained cash deposit in the Bank A/c - in the subsequent assessment year the A.O. himself has accepted that the S.B. A/c of the assessee is used for his business...

 

Quick Updates:Latest Updates