Question
Considering the challenges faced by MSMEs in maintaining
consistent financial reporting standards, which of the following changes in the Income Tax Act of 1961 specifically targeted the simplification of tax compliance for MSMEs with annual turnover of less than _______ under Section ________.Solution
Section 44AD of the Income Tax Act allows MSMEs with a turnover of up to ā¹2 (amended to 3 crores subject to minimum criteria of digital transactions (only 5% in cash receipts allowed) in budget 2023). crore to opt for a presumptive taxation scheme. The Budget 2023 amended Sec 44AD and Sec 44ADA and revised presumptive taxation limits for FY 2023-24 (AY 2024-25) as follows: 
Ā *The increase in limits is subject to a condition that 95% of the receipts must be through online modes.
Dematerialisation or Demat in short is the process through which an investorās physical share certificate gets converted to electronic formatĀ
Who is the author of the book āIndira Gandhi ā A life in natureā?
Khandvi' is a delicacy of which state of India?
Pattern of Stars is called?
Which nation became the first to achieve WHO verification for eliminating Leprosy in September 2024?
Buddhism spread in Kashmir during the reign of which king?
The World Day Against Child Labour is observed on which date?
The Human Development Index (HDI) is published annually by which organization?
Gas leaked during Bhopal tragedy was
'Bihu' is a traditional folk dance originating from which Indian state?
