What Does 44 cash Mean?
What Does 44 cash Mean?
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In the above situation, Mr Ram can opt for presumptive taxation In case the tax is compensated on fifty% of gross receipts. As a result, Ram can choose to spend tax beneath the presumptive plan of taxation beneath part 44ADA.
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Losses can probably exceed the initial demanded deposit. You'll want to entire an possibilities buying and selling application and get approval on qualified accounts. Remember to examine the Properties and Risks of Standardized Alternatives right before investing alternatives.
Presumptive taxation plan relieves tiny taxpayers from preserving regular guides of account and have them audited. Threshold limits under 44AD and 44ADA improved in Spending budget 2023.
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Entire advance tax might be compensated by past installment of progress tax i.e., fifteen March of the year, in case of failure to take action, desire is leviable @ one% on shortfall According to Part 234C