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.

ITAT Surat struck down a 50% turnover-based income estimation, applying Section 44AD to compute actual presumptive profit at 8%. Key takeaway: AO cannot inflate income without legal ...

I worked as a full-time employee for five months of this financial year (FY23) and earned ₹11 lakh. From then on, I have been working as a consultant/freelancer (non-technical) for a couple of firms ...

https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-what-is-the-tax-implication-for-income-from-dealing-in-options/article66292708.ece Copy I ...

A professional with gross receipts of up to Rs. 50 lakhs in a financial year can take advantage of the presumptive taxation scheme and file ITR under Section 44ADA.(Mint) ITR filing: If you are ...

Advance income tax has to be paid in installments on specific dates, and it must be paid in the same year as their income. Advance tax is income tax that is paid in advance rather than in a lump sum ...