New Step by Step Map For 44 cash
New Step by Step Map For 44 cash
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No other deductions for business expenses that usually are authorized is usually claimed eg. depreciation, rent, administrative expenses etcetera
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44 cash is just not chargeable for any of your terms introduced for you. Charges, charges, and conditions are right decided on via the lender.
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What is presumptive taxation? A presumptive taxation can be a technique through which a authorities assumes a specific percentage of the turnover/gross receipts as your taxable profits no matter the expenses incurred.
Section 44ADA presents an easy approach to taxation for little gurus. Area 44ADA offers a scheme of presumptive taxation for profits and gains arising from professions outlined underneath Segment 44AA(one) on the Profits Tax Act, 1961.
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I'm a chartered accountant, nicely-versed from the ins and outs of cash flow tax, GST, and keeping the textbooks balanced. Figures are my matter, I'm able to sift by means of money statements and tax codes with the best of them. But there is certainly An additional side to me – a aspect that thrives on terms, not figures. Read more
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Area 44AD – As per Part 44AD, exactly where a taxpayer opts for presumptive taxation plan for almost any in the fiscal 12 months he is needed to continue to choose for the same for following 5 several years. If he fails to do so, he won't be suitable to opt for presumptive taxation scheme u/s 44AD for 5 several years succeeding the calendar year where he opts out. Even more, with regard to People 5 money decades exactly where taxpayer is ineligible to choose presumptive taxation scheme u/s 44AD, standard textbooks of account must be preserved and audit shall be executed if full income exceeds fundamental exemption Restrict.