The Basic Principles Of 44 cash
The Basic Principles Of 44 cash
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Each the calculation for being produced with the time period all through which the goods carriage is owned via the taxpayer
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Presumptive taxation strategies To alleviate modest taxpayers are offered beneath Portion 44AD, 44ADA and 44AE. Even though Part 44ADA is for industry experts Area 44AD and 44AE problems smaller business taxpayers. Let us realize them in detail.
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Presumptive taxation scheme allows the taxpayers declare their taxable profits in a prescribed rate regardless of real revenue/gains and in turn relieves them through the burden of maintaining typical textbooks of account and obtaining the exact audited.
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Deduction of remuneration is not really permitted if the companies earnings are taxed beneath the presumptive taxation section 44AD or 44ADA.
In the above mentioned case, Mr Ram can go for presumptive taxation In case the tax is compensated on fifty% of gross receipts. Hence, Ram can opt to pay out tax beneath the presumptive scheme of taxation beneath part 44ADA.
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