The 5-Second Trick For 44 cash
The 5-Second Trick For 44 cash
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The presumptive scheme of taxation lessens the compliance burden on small professions and facilitates relieve of doing business. Under the presumptive scheme of taxation, revenue/taxable money is presumed at fifty% from the gross receipts.
Portion 44AD – Frequent publications of accounts are being taken care of if revenue exceeds The fundamental exemption Restrict and an audit shall be performed if situations as per provisions of Part 44AB are fulfilled.
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Generally, someone carrying on company or profession maintains books of accounts and prepares a stability sheet as well as a earnings or loss account to read more comprehend the fiscal situation of his enterprise or job for just a economic year.
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Deduction of remuneration just isn't authorized Should the corporations revenue are taxed beneath the presumptive taxation part 44AD or 44ADA.
I'm a chartered accountant, well-versed within the ins and outs of earnings tax, GST, and trying to keep the guides well balanced. Figures are my point, I can sift via economical statements and tax codes with the ideal of them. But you will find One more side to me – a side that thrives on words, not figures. Study a lot more
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