Description

Core Highlights

First full length commentary reconciling ITA 1961 (Section 44AD, 44ADA, 44AE, 44B, 44BBD & Chapter XII G) into ITA 2025 (Sections 58, 61 & 225-235)
81 FAQs & Case Studies covering every major assessee and transaction type
Chapter by chapter Comparative study vis-a-vis ITA 1961 isolating every textual and substantive change

Why this Book?

ITA 2025 re-stated the entire presumptive taxation framework
Tonnage Tax Scheme re-numbered from Chapter XII-G (Sections 115v – 115VZC) into Section 225-235
Flags every substantive change new loss set off bar, expanded lock in /cooling off. Rule 48 CBDC inclusion, statutory ‘commission or brokerage’ defintion
Nine erstwhile ITA 1961 sections consolidated into two unified table based provisions. Section 58 (residents) and Section 61 (non-residents).
First authored commentary mapping every old provision to its new counterpart

What’s Inside?

Conceptual Foundation: Definition, rebuttable vs irrebuttable presumption, policy purpose, complete ITA 2025 applicability matrix
Section 58 Schemes: Sl. No. 1 (turnover Rs.2/3 crore, 8%/6%), Sl. No. 2 (goods carriage, tonnage per truck , 10 vehicle ceiling), Sl. No. 3 (specified profession, Rs. 50/75 lakh, 50% rate)
Section 61 Schemes: Shipping, cruise, aircraft, turnkey power, mineral oil, electronic goods manufacturing services/ technology
Compliance Consequences: Section 62 book keeping thresholds, Section 63 tax audit triggers, opt in/opt out mechanics, Section 263 (1)/(5) interaction, belated and revised return treatment
Tonnage Tax Scheme: Qualifying tests, daily tonnage slabs, deemed tonnage under Rule 146, corevs, incidental activities, MAT book profit exclusion under Section 206(1)(c), depreciation bifurcation under Section 229, reserve account under Section 232(1), Form No. 80 application, amalgamation/ demerger under Section 233.
81 FAQs: Builders/ developers, stamp duty interplay, nursing homes, coaching institutes, stamp vendors, airline / lottery agents, tanker and JCB hire, limited scrutiny, unexplained cash deposits (Section 104/195), bogus purchases, ITR-4 (Sugam) disclosures for AY 2026-27
Four Appendices: ITA 2025, ITA 1961, IT Rules 2026 (Rules 46, 48, 146), IT Rules 1962 (Rules 6F, 6ABBA)

Who is it For?

Chartered Accountants, Company Secretaries, Cost Accountants and Tax Consultants
Tax Advocates and Litigators Handling Scrutiny and Appellate Matters under ITA 2025
Assessing Officers , CIT (A) Staff and ITAT Practitioners
Small Business Owners, Retail Traders, Manufacturers, Coaching Institute Proprietors, Doctors, Lawyers, Architects, Engineers, Film Artists and Technical Consultants filing ITR 4 (Sugam)
Goods Carriage Operators and Transporter Firms
Non-Resident Shipping Cruise, Airline, Mineral Oil Exploration, Turnkey Power and Electronic Goods Services/Technology Providers
Indian Shipping Companies under the Tonnage Tax Scheme
Corporate Tax Teams and In-House Counsel

Presumptive Taxation