Article & News

Executive Summary   The Union Budget 2026 has introduced the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS 2026), representing a significant policy initiative

One of the essential characteristics of a presumptive taxation scheme is that books of account is not required to be maintained…

The Finance Act, 2016 inserted a new section 44ADA providing for taxation of professionals income on
presumptive basis. The presumption of income is not new to the Income Tax Act, in the past…