Presumptive Tax under Section 44AD of the Income Tax Act, 1961
Presumptive Tax under Section 44AD of the Income Tax Act, 1961 Section 44AD is a presumptive taxation scheme for eligible small businesses. Instead of maintaining detailed books of accounts and calculating actual profits, the law presumes that your net profit is a fixed percentage of your turnover — and you pay tax on that presumed […]
How to Convert Your Sole Proprietorship into a Private Limited Company
When Your Small Business Outgrows You: How to Convert a Sole Proprietorship into a Private Limited Company Most successful businesses in India start the same way — one person, one idea, and a trade name registered at the local municipal office. It’s quick, cheap, and gets you going. But there comes a point where that […]
Difference Between Udyog Aadhaar and Udyam Registration
What Changed and Why It Matters for Your Business? If you registered your small business a few years ago and got an MSME certificate, there’s a good chance that certificate is now outdated — and you may not even know it. Here’s the full story, explained simply. First, What Are These Two Things? Back in […]
0% GST on Insurance: Your 2026 Financial Advantage
One of the biggest financial wins of recent times is the removal of the 18% GST on insurance premiums, which came into effect in late 2025. For years, insurance was treated like a luxury and taxed accordingly. That’s finally changed — it’s now treated as the essential necessity it always should have been. At Advocate […]
HOW TO DO ONLINE INCOME TAX RETURN (ITR) FILING IN INDIA?
HOW TO DO ONLINE INCOME TAX RETURN (ITR) FILING IN INDIA? Filing your income tax return (ITR) has evolved from a mountain of paperwork into a sleek, digital-first experience. With the Income Tax Portal 2.0, the Government of India has essentially turned a once-dreaded chore into a task you can handle from your couch. At […]