Union Budget:2021-22:What is in it for small and medium enterprises(SMEs) and startups?

Section 44ADA was inserted in the Income-Tax Act,1961 by the Finance Act,2016. The Explanatory Memorandum to the Finance Bill,2016 clearly mentioned that LLPs will not be eligible to avail the presumptive tax scheme under section 44ADA.Section 44ADA was inserted in the Income-Tax Act,1961 by the Finance Act,2016. The Explanatory Memorandum to the Finance Bill,2016 clearly mentioned that LLPs will not be eligible to avail the presumptive tax scheme under section 44ADA.taxmann.com NewsRead More

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