Addressing alleged cash discrepancies and debtor recoveries, the Tribunal held that such amounts form part of presumptive business receipts. Without books or adverse evidence, additions were ...

The issue examines how presumptive taxation is consolidated under Section 58. The key takeaway is that structural simplicity masks stricter eligibility and compliance ...

Many first-time F&O traders are confused about whether they need a tax audit when they report losses. Here’s an expert clarification on how Section 44AD and audit rules actually apply in such ...

From social media influencers to script writers, advertising consultants, and digital marketing professionals, many new-age earners are now finding themselves in the crosshairs of the Income-tax (I-T) ...

A salaried individual with F&O losses in FY 2024–25 assumed that the September 31 tax audit deadline applied to him. But what is the actual ITR due date when a tax audit is not required? Ask Wallet ...