Section 44AD ITR filing: Which income you must disclose — and which need not be reported under the presumptive scheme
· livemint.com
Section 44AD allows eligible small business owners to declare income on a presumptive basis without maintaining detailed books. However, taxpayers must still disclose turnover and other taxable income sources while filing ITR.
Section 44AD of the Income Tax Act allows small business owners to declare income on a presumptive basis without maintaining detailed books of accounts. However...