Top 44 cash Secrets
Top 44 cash Secrets
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Having said that, to provide reduction to smaller taxpayers within the tedious job of sustaining guides of account and obtaining them audited, cash flow tax legislation has released the principle of presumptive taxation plan.
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Just after picking presumptive taxation, Should your money goes over and above the set Restrict then You must get your books audited.
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Certainly. When you owe in excess of INR 10,000 in taxes with the fiscal year, you have to pay out progress tax. As an alternative to making 4 payments in typical instances, you must spend advance tax on or prior to March 15th When you have picked a presumptive taxation program less than part 44AD or 44ADA.
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Deduction of remuneration will not be allowed When the corporations revenue are taxed underneath the presumptive taxation part 44AD or 44ADA.
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Yes, it is possible to decide each Part 44AD and Section 44ADA jointly, When you have profits from company and also specified professionals.
Portion 44ADA was launched to extend the plan of simplified presumptive taxation to specified pros. Previously, the presumptive plan of tax was readily available only to modest firms.