Helping The others Realize The Advantages Of 44 cash
Helping The others Realize The Advantages Of 44 cash
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Area 44AE – Standard books of account shall be maintained and audit shall be performed no matter turnover or revenue.
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Segment 44AD – As per Part 44AD, exactly where a taxpayer opts for presumptive taxation scheme for any on the economic calendar year he is necessary to carry on to decide for a similar for upcoming 5 a long time. If he fails to take action, he will not be qualified to go for presumptive taxation scheme u/s 44AD for 5 a long time succeeding the year where he opts out. More, with respect to People five financial a long time the place taxpayer is ineligible to choose presumptive taxation plan u/s 44AD, standard publications of account have to be preserved and audit shall be performed if full revenue exceeds essential exemption Restrict.
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In the above circumstance, Mr Ram can go for presumptive taxation In the event the tax is paid on fifty% of gross receipts. For this reason, Ram can choose to shell out tax underneath the presumptive scheme of taxation beneath area 44ADA.
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