About 44 cash
About 44 cash
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Will I be permitted any deduction for any expenditure incurred for investments and insurance plan high quality underneath Part 80C and 80D, if I select presumptive taxation?
Deduction of remuneration is not authorized When the corporations revenue are taxed beneath the presumptive taxation segment 44AD or 44ADA.
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In the above case, Mr Ram can select presumptive taxation When the tax is paid out on 50% of gross receipts. As a result, Ram can choose to pay tax under the presumptive scheme of taxation underneath section 44ADA.
Indeed. Should you owe in excess of INR ten,000 in taxes for the fiscal calendar year, You need to pay back progress tax. Rather than making 4 payments in standard situations, you have to pay progress tax on or prior to March fifteenth Should you have picked a presumptive taxation program under part 44AD or 44ADA.
Each lender inside our community more info has their own individual plan With regards to late payments. Before you decide to comply with a personal loan you will end up furnished with the knowledge regarding the implications of creating late payments.
However, to supply relief to little taxpayers from your cumbersome job of protecting guides of account and finding them audited, cash flow tax legislation has launched the thought of presumptive taxation plan.
Vertiginous growth prices are difficult to sustain over longer periods, which puts marketplace IRRs less than inevitable stress.
No, It's not at all Obligatory to opt Area 44AE, it is actually optional, if you opt for standard provisions, Then you really might need to keep up textbooks of accounts and have exactly the same audited.
6% of whole turnover or gross receipts of a tax yr obtained by account payee cheque/financial institution draft, ECS as a result of banking account on or just before owing day of filing the return of income
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