Everything about 44 cash
Everything about 44 cash
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Cash flow in the job is offered in a lessen amount than fifty% with the gross receipts (i.e., the bills to get claimed is in excess of 50% in the gross receipts) and the overall income is greater than The essential exemption.
Of course, you'll be able to decide both Part 44AD and Area 44ADA together, For those who have cash flow from organization as well as specified industry experts.
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Hence the taxpayer can choose for the presumptive taxation plan below area 44ADA along with the taxable income chargeable is fifty% of the whole receipts.
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Any person carrying on qualified business enterprise or job below Area 44AD or 44AE or 44ADA and claims financial gain reduce in comparison to the prescribed money, will not be allowed to enjoy the relief given for servicing of guides of account and audit.
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No, you won't be demanded to take care of textbooks of account when you finally select presumptive taxation program.
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Inspite of deciding on presumptive plan below area 44ADA, taxpayer can claim part eighty tax conserving deductions and investments.
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