44 cash Things To Know Before You Buy
44 cash Things To Know Before You Buy
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I can’t say Substantially about these as there’s not Substantially comments, they usually’re slightly out of how for the majority of visitors.
In the above scenario, Mr Ram can opt for presumptive taxation Should the tax is compensated on fifty% of gross receipts. For this reason, Ram can opt to pay tax beneath the presumptive scheme of taxation beneath area 44ADA.
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The presumptive scheme of taxation cuts down the compliance stress on smaller professions and facilitates ease of doing organization. Under the presumptive plan of taxation, profits/taxable income is presumed at 50% with the gross receipts.
No other deductions for company costs that tend to be allowed might be claimed eg. depreciation, hire, administrative costs and many others
I'm a chartered accountant, well-versed within the ins and outs of income tax, GST, and retaining the books well balanced. Quantities are my issue, I'm able to sift through fiscal statements and tax codes with the most effective of them. But there's An additional aspect to me – a side that thrives on terms, not figures. Examine more
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Deduction of remuneration is just not get more info authorized When the companies cash flow are taxed under the presumptive taxation area 44AD or 44ADA.
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