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# bookkeeping

1 posts in `bookkeeping` tag

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Income tax

Small Business & Professional Taxes: A Guide to Sections 44AA, 44AB, 44AD, 44ADA for FY 2024-25

For small businesses and professionals in India, understanding Sections 44AA, 44AB, 44AD, and 44ADA of the Income Tax Act, 1961, is essential for smooth tax compliance. This guide explains how these sections apply for the Financial Year 2024-25 (Assessment Year 2025-26). It covers necessary bookkeeping, tax audit rules, and the simplified presumptive taxation schemes that can greatly lessen the compliance burden for qualified taxpayers.