The best Side of 44 cash
The best Side of 44 cash
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In the event the professionals claim their profits to become less than 50% of their gross overall receipts and also when they exceed the the limit of gross receipt, then they can't go with presumptive taxation.
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Full progress tax may be paid by previous installment of advance tax i.e., 15 March of the 12 months, in case of failure to do so, desire is leviable @ one% on shortfall as per Section 234C
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Part 44ADA is often a Exclusive provision 44 cash for calculating the taxable profits for compact industry experts in selected circumstances.
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All deductions for organization charges are deemed to are already permitted. When income are taxed at 50% from the gross receipts, the equilibrium of 50% is considered to generally be permitted toward all of the business costs from the assessee.
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