Can presumptive taxation make business incomes up to ₹2 crore tax-free?

But, some experts warn it may not be a blanket benefit available to all businesses and professionals eligible for presumptive taxation schemes. How does presumptive taxation work? Presumptive taxation for businesses and professionals is covered under Section 44AD and Section 44ADA, respectively. Under Section 44AD, small businesses with a turnover of up to ₹2 crore, whose … Read more

Are personal loans taxable in India? Know income tax rules and deduction benefits | Mint

Personal loans are a widely used financial tool in India, offering quick access to funds for a range of purposes—be it education, healthcare, home construction, or even to repay other outstanding loans. However, how these funds are treated under the Income Tax Act has always raised questions among borrowers. Many wonder whether personal loans are … Read more

New income tax norms, GST changes, UPI payment: List of new money rule changes that will affect your pocket from April 1 | Mint

Money rule changes from April 1 2025: March 2025 is coming to an end, ushering the beginning of a new financial year from April 1. The financial year 2025-26 will start from April 1, affecting citizens and taxpayers across India. New income tax rule changes, credit card rule change, UPI rule change and a host … Read more