Changes in ITR forms and in provisions relating to reporting income and its taxation must be factored in

It is not only salaried individuals who have to contend with changes in the Income Tax Return (ITR) forms this tax paying season. Those running small businesses and professionals also need to take cognisance of tweaks — both in the ITR forms and in provisions related to reporting their income and its taxation.Presumptive schemeTaxation of presumptive income under Section 44AD is a popular provisio...