The Ultimate Guide To 44 cash
The Ultimate Guide To 44 cash
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Nonetheless, to offer aid to compact taxpayers with the cumbersome work of preserving books of account and having them audited, earnings tax law has released the idea of presumptive taxation plan.
Portion 44ADA is actually a special provision for calculating the taxable income for small experts in particular instances.
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In the above mentioned illustration, the total receipt is below the revised/improved presumptive Restrict of Rs. seventy five lakh and the cash receipt is below 5% of the whole receipts.
No, It's not at all Obligatory to decide Portion 44AE, it is optional, if you decide for regular provisions, Then you definately might have to take care of books of accounts and acquire exactly the same audited.
Entire progress tax might be paid out by final installment of progress tax i.e., fifteen March of a 12 months, in case of failure to take action, interest is leviable @ 1% on shortfall According to Part 234C
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