Section 44AD (Presumptive Income for Business)
Definition
Scheme allowing eligible business owners to declare deemed income of 8% of gross turnover (6% if receipts are via digital/banking modes), without proving actual expenses.
In Context
Eligible for businesses with turnover ≤ ₹3Cr (if 95%+ transactions are digital) or ₹2Cr (standard). Opt via ITR-4. Cannot be used by professionals (use 44ADA), F&O traders, or specified professions.
Related Terms
Want personalized financial guidance?
Use Kuber.AI to understand how Section 44AD (Presumptive Income for Business) applies to your financial plan.
Download Kuber.AI
⚠️ Disclaimer: This glossary is for educational purposes. Simplify Money provides analytical insights and guidance. We have applied for SEBI RIA registration.