2026

Section 44AD Presumptive Taxation: Complete Guide for Small Businesses (FY 2025-26)

If you run a small business in India and dread tax season, Section 44AD of the Income Tax Act was designed with you in mind. This presumptive taxation scheme lets eligible businesses declare income as a fixed percentage of their turnover – no detailed bookkeeping, no tax audit, and no quarterly advance tax calculations. In

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Rule 86B of GST: What Every Business With ₹50 Lakh+ Monthly Turnover Must Know

If your business crosses ₹50 lakh in monthly taxable turnover, Rule 86B of the CGST Rules directly affects how you can use your Input Tax Credit (ITC). Introduced on 1st January 2021, this rule prevents businesses from settling 100% of their GST liability through ITC alone – requiring at least 1% to be paid in

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New Income Tax Forms from 1 April 2026: Complete List of Old vs New Form Numbers

The Income Tax Department of India has renumbered almost all major income tax forms with effect from 1 April 2026. While the content and purpose of these forms largely remain unchanged, the form numbers have been revised under a new structured numbering system. This article provides a complete old-to-new form number mapping, explains what each

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