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The language has been simplified but the legal effect is the same. Section 44AE is now Section 58(2), Table Sl. 2. You do not need to change your tax planning or compliance approach. Update section references in new filings.
Section 44AE: presumptive income for the business of plying, hiring or leasing goods carriages.
Section 58(2), Table Sl. 2 of the Income-tax Act, 2025. Rates and limits: detailed review pending.
44AE → 58(2) Table Sl. 2 (part of the consolidated presumptive section).
Language simplified or restructured for clarity. Legal effect remains the same.
The language has been simplified but the legal effect is the same. Section 44AD is now Section 58(2), Table Sl. 1. You do not need to change your tax planning or compliance approach. Update section references in new filings.
Section 44AD: Presumptive income at 8%/6% of turnover for eligible businesses with turnover up to Rs. 2 crore (Rs. 3 crore with digital receipts ≥ 95%).
Section 58(2), Table Sl. 1: presumptive profits of an eligible business (earlier s.44AD). Section 58 consolidates the three existing presumptive schemes — 44AD (Sl. 1), 44AE (Sl. 2) and 44ADA (Sl. 3).
44AD → 58(2) Table Sl. 1. A consolidation of existing schemes, not a new scheme. Sl. 1 rates/limits: detailed review pending.
Language simplified or restructured for clarity. Legal effect remains the same.