{"id":94111,"date":"2016-12-21T14:39:00","date_gmt":"2016-12-21T09:09:00","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=94111"},"modified":"2016-12-21T14:39:00","modified_gmt":"2016-12-21T09:09:00","slug":"benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/","title":{"rendered":"Benefit of lower rate of income tax on digital turnover for small businesses"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Measures for Promoting Digital Payments &amp; Creation of Less-Cash Economy:\u00a0 Benefit of lower rate of Income Tax on digital turnover for small businesses<\/strong><br \/>\nThe benefit of lower rate of Income tax on digital turnover for small businesses up to a turnover of Rs.2,00,000,00 (Rupees Two Crore), announced by the Government \u00a0under Section 44AD of the Income Tax Act, 1961 is a huge benefit given to businessmen for promoting digital\/banking transactions. The benefits given are explained in the following paragraph.<\/p>\n<p style=\"text-align: justify;\">If a trader makes his transactions in cash on a turnover of Rs. Two Crore, then his income under the presumptive scheme will then be presumed to be Rs. 16 lakhs @ 8% of turnover.\u00a0 After availing of Rs. 1.5 lakhs of deduction under Section 80C, his total tax liability will be Rs. 2,67,800. However, if he shifts to 100% digital transactions under the new announcement made, his profit will be presumed to be at Rs. 12 lakhs @ 6% of turnover, and after availing of Rs. 1.5 lakhs under Section 80C, \u00a0his tax liability now will be only Rs.1,44,200. Here, digital transaction includes payment received by Cheque or through any other digital means. In the following example, the benefit obtained by traders and small businesses is explained in 3 different scenarios:<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"147\"><strong>Particulars<\/strong><\/td>\n<td width=\"154\"><strong>100% Cash Turnover (Rs.)<\/strong><\/td>\n<td width=\"154\"><strong>60% Digital Turnover (Rs.)<\/strong><\/td>\n<td width=\"154\"><strong>100% Digital Turnover (Rs.)<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"147\">Total Turnover<\/td>\n<td width=\"154\">2 Crore<\/td>\n<td width=\"154\">2 Core<\/td>\n<td width=\"154\">2 Crore<\/td>\n<\/tr>\n<tr>\n<td width=\"147\">Cash Turnover<\/td>\n<td width=\"154\">2 Crore<\/td>\n<td width=\"154\">0.80 Crore<\/td>\n<td width=\"154\">NIL<\/td>\n<\/tr>\n<tr>\n<td width=\"147\">Digital Turnover<\/td>\n<td width=\"154\">NIL<\/td>\n<td width=\"154\">1.2 Crore<\/td>\n<td width=\"154\">2 Crore<\/td>\n<\/tr>\n<tr>\n<td width=\"147\">Profit on Cash Turnover @ 8%<\/td>\n<td width=\"154\">16 Lakh<\/td>\n<td width=\"154\">6.40 Lakh<\/td>\n<td width=\"154\">NIL<\/td>\n<\/tr>\n<tr>\n<td width=\"147\">Profit on Digital turnover @ 6%<\/td>\n<td width=\"154\">NIL<\/td>\n<td width=\"154\">7.20 Lakh<\/td>\n<td width=\"154\">12 Lakh<\/td>\n<\/tr>\n<tr>\n<td width=\"147\">Total Profit<\/td>\n<td width=\"154\">16 Lakh<\/td>\n<td width=\"154\">13.60 Lakh<\/td>\n<td width=\"154\">12 Lakh<\/td>\n<\/tr>\n<tr>\n<td width=\"147\">Deduction u\/s 80C<\/td>\n<td width=\"154\">1.5 Lakh<\/td>\n<td width=\"154\">1.5 Lakh<\/td>\n<td width=\"154\">1.5 Lakh<\/td>\n<\/tr>\n<tr>\n<td width=\"147\">Taxable Income<\/td>\n<td width=\"154\">14.50 Lakh<\/td>\n<td width=\"154\">12.10 Lakh<\/td>\n<td width=\"154\">10.50 Lakh<\/td>\n<\/tr>\n<tr>\n<td width=\"147\">Tax Payable<\/td>\n<td width=\"154\">2,67,800<\/td>\n<td width=\"154\">1,93,640<\/td>\n<td width=\"154\">1,44,200<\/td>\n<\/tr>\n<tr>\n<td width=\"147\"><strong>Tax Saving<\/strong><\/td>\n<td width=\"154\"><strong>NIL<\/strong><\/td>\n<td width=\"154\"><strong>74,160<\/strong><\/td>\n<td width=\"154\"><strong>1,23,600<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\">Apart from making a tax saving of almost 46% by migrating to banking mode, the small businesses would be able to build their books which may also help them get bank loans easily.\u00a0 Also, if transactions are carried out through banking channels, then anybody having annual turnover up to Rs. 66 lakhs will have zero tax liability after availing the benefit of Section 80C, after amendment of this new rate structure.<\/p>\n<p style=\"text-align: right;\">Ministry of Finance<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Measures for Promoting Digital Payments &amp; Creation of Less-Cash Economy:\u00a0 Benefit of lower rate of Income Tax on digital turnover for small <\/p>\n","protected":false},"author":91,"featured_media":28141,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[],"class_list":["post-94111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot_off_the_press","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Benefit of lower rate of income tax on digital turnover for small businesses | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Benefit of lower rate of income tax on digital turnover for small businesses\" \/>\n<meta property=\"og:description\" content=\"Measures for Promoting Digital Payments &amp; Creation of Less-Cash Economy:\u00a0 Benefit of lower rate of Income Tax on digital turnover for small\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-21T09:09:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Saba\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/\",\"name\":\"Benefit of lower rate of income tax on digital turnover for small businesses | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg\",\"datePublished\":\"2016-12-21T09:09:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg\",\"width\":1330,\"height\":887,\"caption\":\"North Block\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Benefit of lower rate of income tax on digital turnover for small businesses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785\",\"name\":\"Saba\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g\",\"caption\":\"Saba\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_2\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Benefit of lower rate of income tax on digital turnover for small businesses | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/","og_locale":"en_US","og_type":"article","og_title":"Benefit of lower rate of income tax on digital turnover for small businesses","og_description":"Measures for Promoting Digital Payments &amp; Creation of Less-Cash Economy:\u00a0 Benefit of lower rate of Income Tax on digital turnover for small","og_url":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2016-12-21T09:09:00+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg","type":"image\/jpeg"}],"author":"Saba","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Saba","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/","url":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/","name":"Benefit of lower rate of income tax on digital turnover for small businesses | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg","datePublished":"2016-12-21T09:09:00+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg","width":1330,"height":887,"caption":"North Block"},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/21\/benefit-of-lower-rate-of-income-tax-on-digital-turnover-for-small-businesses\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Benefit of lower rate of income tax on digital turnover for small businesses"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/e8e76b10dfc9c0d576324bfdbb2c2785","name":"Saba","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a815285315cd85d8b3246c60ed8ed99825949c1b85b370c49212daa54ededa98?s=96&d=mm&r=g","caption":"Saba"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_2\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":103151,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/02\/02\/salient-features-of-direct-tax-proposals-in-union-budget-2017\/","url_meta":{"origin":94111,"position":0},"title":"Salient Features of Direct Tax Proposals in Union Budget 2017","author":"Saba","date":"February 2, 2017","format":false,"excerpt":"The salient features of Direct Tax proposals in the \u00a0Union Budget 2017 are summarised below: I. Affordable Housing 1. Three concessions in the scheme of Income Tax exemption for affordable housing: (a) Area of 30 and 60 Sq.mtr. to be counted as carpet area and not built-up area; (b) 30\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":316633,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/03\/11\/cci-notifies-cci-determination-of-monetary-penalty-guidelines-2024-legal-news\/","url_meta":{"origin":94111,"position":1},"title":"CCI notifies Competition Commission of India (Determination of Monetary Penalty) Guidelines, 2024","author":"Kriti","date":"March 11, 2024","format":false,"excerpt":"CCI issues guidelines to bring transparency in method of calculating penalties.","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Competition Commission of India","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Competition-Commission-of-India-2.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Competition-Commission-of-India-2.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Competition-Commission-of-India-2.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Competition-Commission-of-India-2.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":218580,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/23\/cbdt-issues-clarification-on-eligibility-of-small-start-ups-to-avail-tax-holiday\/","url_meta":{"origin":94111,"position":2},"title":"CBDT issues clarification on eligibility of small Start-ups to avail tax holiday","author":"Bhumika Indulia","date":"August 23, 2019","format":false,"excerpt":"The Central Board of Direct Taxes (CBDT) has clarified today that small start-ups with turnover upto Rs. 25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act, 1961 (the \u2018Act\u2019), which provides deduction for 100 per cent of income of\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":346859,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/04\/30\/services-provided-to-individual-by-advocate-or-firm-are-exempted-from-levy-of-service-tax-orissa-hc\/","url_meta":{"origin":94111,"position":3},"title":"Services provided to individual by advocate or firm are exempted from levy of service tax; Orissa HC quashes Rs. 2 Lakhs service tax notice","author":"Editor","date":"April 30, 2025","format":false,"excerpt":"Services provided by an advocate or a Partnership firm of advocates providing legal services to any person other than a business entity and a business entity with a turnover up to rupees ten lakhs in the preceding financial year are exempted from the levy of service tax.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Orissa High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Orissa-High-Court.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Orissa-High-Court.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Orissa-High-Court.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Orissa-High-Court.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":93741,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/20\/government-to-reduce-existing-rate-of-deemed-profit-under-s-44-ad-of-it-act-in-respect-of-amountsreceipts-through-banking-channeldigital-means\/","url_meta":{"origin":94111,"position":4},"title":"Government to reduce existing rate of deemed profit under S. 44-AD of IT Act in respect of amounts\/receipts through banking channel\/digital means","author":"Saba","date":"December 20, 2016","format":false,"excerpt":"Under the existing provisions of Section 44AD of the Income Tax Act, 1961 (the Act), in case of certain assesses (i.e. an individual, HUF or a partnership firm other than LLP) carrying on any business (other than transportation, agency, brokerage and commission) and having a turnover of Rupees Two Crore\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":185734,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/02\/05\/summary-budget-2018-19\/","url_meta":{"origin":94111,"position":5},"title":"Summary of Budget 2018-19\u00a0","author":"Saba","date":"February 5, 2018","format":false,"excerpt":"Government says that it is firmly on course to achieve high growth of 8% plus as manufacturing, services and exports are back on good growth path. While GDP growth at 6.3% in the second quarter of 2017-18 signalled turnaround of the economy, growth in the second half is likely to\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/02\/budget.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/02\/budget.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/02\/budget.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/02\/budget.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/02\/budget.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/94111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=94111"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/94111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/28141"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=94111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=94111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=94111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}