Section 44AD of the Income Tax Act, 1961, is a special provision for small businesses, offering a simplified taxation scheme. This section allows eligible businesses to declare a deemed profit rate, reducing compliance burdens and simplifying tax calculations. In this article, we’ll explore the benefits, eligibility criteria, and key features of Section 44AD, helping small businesses understand how to leverage this scheme to their advantage.
By understanding Section 44AD, small businesses can unlock the benefits of simplified taxation, reducing compliance burdens and tax liability. In this article, we’ll provide a comprehensive overview of Section 44AD, helping you make informed decisions about your business’s tax strategy.
