The issue was whether a trader declaring income under Section 44AD could face additions for unexplained cash deposits. The Tribunal ruled in favour of the assessee, holding such additions contrary to ...

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 cases.

But, some experts warn it may not be a blanket benefit available to all businesses and professionals eligible for presumptive taxation schemes. Presumptive taxationfor businesses and professionals is ...