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A comprehensive list of frequently asked questions on Presumptive Income IT Filing.
To give relief to small taxpayers from this tedious work, the Income Tax Act has framed the Presumptive Taxation scheme under sections 44AD, 44AE and 44ADA.
A person adopting the Presumptive Taxation scheme can declare income at a prescribed rate and, in turn, is relieved from tedious job of maintenance of books of account.
Yes you can opt this scheme, the threshold limit of Rs 2 Crores is applicable only to business income and 50 lakhs to Professional income.
You can send the soft copies of the required documents to firstname.lastname@example.org or upload the documents on EZTax Website.
It is nothing, but your Income Tax computation sheet prepared by EZTax. In other words it is summary of you Income Tax computation details.
After receiving draft from EZTax.in through mail, you can revert to that mail with your opinion to proceed further.
ITR-V stands for 'Income Tax Return Verification' Form. You will receive ITR-V when you file your Income Tax Return online.