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FM Nirmala Sitharaman to resume pre-Budget consultations with industry stakeholders from November 18

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HM Amit Shah to chair 32nd Northern Zonal Council meeting in Faridabad on November 17

Eight of India’s top 10 companies add over Rs 2 lakh crore in market value in a strong week for equities

Presumptive taxation scheme:&nbsp;The government extended the limit for presumptive tax for small businesses from Rs 2 crore to Rs 3 crore and for individual professionals from Rs 50 lakhs to Rs 75 lakhs.

Govt enhances presumptive taxation limit; a peek into how it will be beneficial for MSMEs, professionals

Presumptive tax: The government in the budget 2023 extended the limit for presumptive tax for small businesses from Rs 2 crore to Rs 3 crore and for individual professionals from Rs 50 lakhs to Rs 75 lakhs.

What is presumptive taxation and how it is beneficial for small businesses, professionals? Expert explains

Presumptive Taxation involves the use of indirect methods to compute tax liability, where the taxable income is calculated based on assumptions instead of actuals.&nbsp;

Income Tax: Half of your income could be tax exempt if you are a professional