What Is Presumptive Tax Regime? (Solution)

Presumptive taxation (Section 44ADA) has been introduced for professionals, under which professionals can file their returns declaring 50 percent of their gross receipts (which must be up to Rs. 50 lakhs) as income, and after deducting section 80 deductions, professionals are required to pay tax on the remaining balance total. What is meant by presumptive […]

What Is Elasticity Of Tax? (Question)

It is the automatic reaction of revenues to changes in income while the tax structure remains same that is taken into account in this study. However, tax buoyancy is a measure that takes into account both the effects of income and discretionary changes on revenue revenues. How is tax elasticity calculated? When it comes to […]