Everything about 44 cash
Everything about 44 cash
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Below Section 44AD of presumptive taxation, compact taxpayers with under Rs two crore of turnover are not necessary to take care of publications of accounts and their revenue are presumed to get 8% in their turnover.
No, It's not Obligatory to decide Segment 44AE, it really is optional, if you choose for regular provisions, You then might require to keep up guides of accounts and obtain the same audited.
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Both of those the calculation being created for your period all through which the goods carriage is owned by the taxpayer
The business or persons gross receipts while in the former year should not be a lot more than Rs 2 crore(Rs. 3 crore subject to your ailment that ninety five% on the receipts needs to be as a result of on the web modes). Folks or companies engaged within the company of plying/hiring goods carriages can not undertake these provisions.
Will I be authorized any deduction for just about any expenditure incurred for investments and insurance quality under Segment 80C and 80D, if I go with presumptive taxation?
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