Income tax nature of business

The Income Tax Busi­ness Code is a clas­si­fi­ca­tion sys­tem by Indi­a’s Income Tax Depart­ment aimed at iden­ti­fy­ing tax­pay­ers’ busi­ness activ­i­ties. Select­ing the cor­rect code is vital for accu­rate tax report­ing and to avoid scruti­ny. Tax­pay­ers can find the appro­pri­ate code and check the applic­a­bil­i­ty of pro­vi­sions 44AD and 44ADA online.

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