A 360 degree Approach to Presumptive Taxation

A 360? Approach to Presumptive Taxation by CA. R.S. Kalra is an in-depth examination of India's presumptive taxation schemes, primarily designed to simplify tax compliance for small and medium-sized businesses. First published in 2023, this book serves as a comprehensive guide for taxpayers, tax professionals, and students seeking a nuanced understanding of these provisions.

The presumptive taxation provisions under the Income Tax Act aim to reduce the compliance burden on eligible taxpayers by offering simplified methods for computing taxable income. These schemes, introduced in 1993 and amended subsequently, provide relief from maintaining detailed books of accounts and undergoing audits. The book meticulously explores these provisions, offering clarity on their application and nuances.​

Key Features:

• Structured Analysis: The book is organized into 16 chapters, each addressing different aspects of presumptive taxation.
• Comprehensive Commentary: Each chapter presents relevant statutory provisions followed by detailed commentary, incorporating examples, bullet points, flow charts, and judicial pronouncements to enhance understanding.​
• Updated Content: The book includes amendments made by the Finance Act, 2023, and integrates recent judicial decisions, ensuring readers have access to the latest information.

Chapter 1 Introduction
Chapter 2 Provisions of Section 44AB
Chapter 3 Concept & Meaning of Turnover
Chapter 4 Maintenance of Books of Accounts
Chapter 5 Presumptive Taxation Scheme – Section 44AD
Chapter 6 Presumptive Taxation Scheme under section 44ADA
Chapter 7 Presumptive Taxation Scheme under section 44AE
Chapter 8 Special provision for computing profits and gains of shipping business other than cruise shipping in case of non-residents
Chapter 9 Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils – Section 44BB
Chapter 10 Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents – Section 44BBA
Chapter 11 Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects -Section 44BBB
Chapter 12 Special provision for computing profits and gains of business of operation of cruise ships in case of non-residents - Section 44BBC
Chapter 13 Special Provision for Computing Profits and Gains of Non-Residents engaged in Business of providing services or Technology, for setting up an Electronics manufacturing facility or in connection with manufacturing or production of electronic goods, article or thing in India
Chapter 14 Cash Deposits in Cases of Businesses Covered under Presumptive Taxation
Chapter 15 Interplay of section 44AA, 44AB and 44AD of the Income Tax Act, 1961
Chapter 16 Applicability of tax audit and presumptive taxation in case a person is carrying on both Business and Profession
Chapter 17 Tax Deducted at Source and Advance Tax
Chapter 18 Penalty for failure to get accounts Audited – Section 271B
Chapter 19 Presumptive Taxation does not create a privileged class of taxpayers
Chapter 20 Invocation of Section 69C — If Assessee is Opting for Presumptive Taxation
Chapter 21 Comparative Study of Section 44AD, 44ADA and 44AE