LatestGoods & Service Tax (GST) 8 August 2026
Section 44AD Tax Filing
The section 44AD is a simple way for small business owners, retailers, traders, and eligible professionals to file their business income tax returns for the assessment year 2026-27, it provides an easy and straightforward method to calculate taxable income, this scheme is available for businesses with a turnover of up to 2 crore rupees and it allows them to calculate their taxable income at a prescribed rate of 8% of the total turnover
Section 44AD is a prescribed scheme under the income tax act for small business owners, retailers, traders, and eligible professionals to file their business income tax returns for the assessment year 2026-27.
- The scheme provides an easy and straightforward method to calculate taxable income.
- It is available for businesses with a turnover of up to 2 crore rupees.
- The taxable income is calculated at a prescribed rate of 8% of the total turnover.
For more details and to file the tax returns, visit the original source article.
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