Business and Profession
Calculation of Income under the Head ‘Profits and Gains of Business and Profession’ Under Section 28 to 44D.
![Expenses allowed as a Deduction [Sections 30 to 35] -Profits and Gains of Business and Profession](https://incometaxmanagement.in/wp-content/uploads/2023/01/Expenses-allowed-as-a-Deduction-Sections-30-to-35-350x250.jpg)
Expenses allowed as a Deduction [Sections 30 to 35] -Profits and Gains of Business and Profession
Section 30 to 35 covers the following expenses Allowed as Deduction while computing Profits and Gains of Business and Profession....
Section 36-Other Deductions -Profits and Gains of Business and Profession.
Other Deductions which are specified under section 36 for computing income arising from Business and Profession include the following: 1. ...
![General Deductions [Section 37(1)]](https://incometaxmanagement.in/wp-content/uploads/2023/01/General-Deductions-Section-371-350x250.jpg)
General Deductions [Section 37(1)] -Profits and Gains of Business or Profession
Any expenditure (not being expenditure of the nature described in sections 30 to 36) and not being in the nature...
Expenses or Payments Not Deductible: [Section 40A] -Profits and Gains of Business or Profession
The provisions, which are being discussed under various sub-sections of section 40A have overriding effect over the provisions of any...
Section 43B-Expenses Allowed only on Actual Payment -Profits and Gains of Business and Profession
Under Section 43B, some of the Expenses are allowed and can be claimed by the Assessee only in the year...
Section 69- Undisclosed income and investments Taxed as Deemed Income of Business and Profession
Income referred to in Section 68, 69A, 69B, 69C and 69D which are undisclosed income and Investments Taxed as Deemed...
Section 41-Deemed Profits Chargeable to Tax as Business Income
What are the Deemed Profits and how they chargeable to Tax as Business Income under Section 41. 1. Recovery against...
[Section 44AA and Rule 6F]- Maintenance of Accounts by Certain Persons carrying on Business and Profession
As per Section 44AA and Rule 6F, persons carrying on Business and Professions specified below are mandatorily required to maintain...
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Compulsory Tax Audit of Accounts [Section 44AB] – Profits and Gains of Business and Profession
1. Following Business required to get their Accounts Compulsory Audited by CA under Section 44AB (1) Person carrying on business...
Estimated Income Method – for Computing Business Income in Certain Cases
1. Special Provisions for computing profits and gains of Any Business (excluding the business covered under Section 44AE) (1) Eligible...
Income Tax Management and Tax Ready Reckoner with Tax Planning for the Assessment Years 2022-2023 & 2023-2024 - for Students, Salaried, Professionals & Businessman.