Business Income & Audit
Presumptive tax, books, tax audit, cash limits and MSME payment rules.
5 guides · read in order or jump to what you need
01
Presumptive taxation: sections 58, 59 and 60 (old 44AD, 44ADA, 44AE)
Declare a fixed percentage as profit, skip detailed books, and the limits that decide who can use it.
02
Books of account and tax audit (sections 62 and 63)
Who must keep books, who needs a tax audit, and the audit and ITR dates for AY 2026-27.
03
Cash limits, MSME payments and other disallowances
The cash rules and the MSME 45-day rule that cause the most disallowances in small businesses.
04
Paying yourself from your business: drawings, remuneration, salary or dividend
How owners of a proprietorship, firm, LLP or company should take money out of the business, and how each route is taxed.
05
Can I claim this expense? Business deduction rules in plain language
The tests every business expense must pass for income tax, the common disallowances, and a quick table of what is and isn't deductible.