What Does 44 cash Mean?
What Does 44 cash Mean?
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Exactly what is presumptive taxation? A presumptive taxation is a technique in which a federal government assumes a particular percentage of your respective turnover/gross receipts as your taxable money regardless of the costs incurred.
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Section 44AD – Frequent guides of accounts are to become taken care of if cash flow exceeds the basic exemption limit and an audit shall be performed if conditions According to provisions of Portion 44AB are fulfilled.
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Displays the number of several hours labored and the number of hrs of go away used in Every group 12 months so far.
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In the above circumstance, Mr Ram can select presumptive taxation In case the tax is paid on 50% of gross receipts. For this reason, Ram can choose to spend tax under the presumptive plan of taxation beneath part 44ADA.
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