Getting My 44 cash To Work
Getting My 44 cash To Work
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Below Part 44AD of presumptive taxation, modest taxpayers with less than Rs two crore of turnover aren't necessary to maintain guides of accounts as well as their profits are presumed to be eight% of their turnover.
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Any person carrying on eligible business enterprise or career beneath Section 44AD or 44AE or 44ADA and promises gain decrease compared to the prescribed money, is just not allowed to enjoy the reduction provided for servicing of publications of account and audit.
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Take note: Any amount of money paid Through advance tax on or ahead of 31st working day of March shall even be handled as advance tax paid out over the monetary yr ending on that day.
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Presumptive taxation scheme launched for compact taxpayers under sections 44AD and 44ADA. Current updates in 2023: amplified turnover restrictions. Disorders contain continuity for 5 a long time and on line transactions need.
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