Are you a small business that is constantly looking to strengthen your routes in the market but stuck up with maintaining a balance sheet? Or a professional freelancer who is continuously caught up with different projects and has no time to main financial records? If yes, then we think we can relieve your burden regarding tax saving as you no longer need to worry when the tax filing season approaches.
What Is A Presumptive Taxation Scheme (PTS) Scheme?
The Presumptive Taxation Scheme, according to sections 44AA of the Income-tax Act, 1961, was introduced to relieve the small business owners and income professionals from maintaining a book of accounts. They will now be enabled to declare their total taxable income at a predefined rate. This scheme has been prescribed under three sections as specified below:
Read more on: https://taxguru.in/income-tax/presumptive-taxation-scheme.html
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