Presumptive tax regime (which is also known as simplified tax regime) intends to reduce tax compliance difficulties, especially for low-income earners as well as Nano, Micro and Small ...

Under the presumptive taxation regime, the tax department presumes a certain proportion of the turnover as taxable income. Presumptive taxation is applicable to small businesses and professionals ...

It is to be noted that FM Sitharaman on February 1 proposed to retain the same tax rates for both direct and indirect taxes, including import duties. She also maintained the status quo on the capital ...