Tuesday, February 2, 2021

Union Budget:2021-22:What is in it for small and medium enterprises(SMEs) and startups?

Section 44ADA was inserted in the Income-Tax Act,1961 by the Finance Act,2016. The Explanatory Memorandum to the Finance Bill,2016 clearly mentioned that LLPs will not be eligible to avail the presumptive tax scheme under section 44ADA.

from taxmann.com News https://ift.tt/2YwcmVg
-
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...