5 Essential Elements For 44 cash
5 Essential Elements For 44 cash
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No concession in payment of progress tax. Similar shall be compensated in four installments as per typical progress tax provisions
In the above circumstance, Mr Ram can choose presumptive taxation Should the tax is paid out on 50% of gross receipts. That's why, Ram can prefer to spend tax beneath the presumptive scheme of taxation below segment 44ADA.
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The presumptive plan of taxation decreases the compliance load on modest professions and facilitates ease of carrying out enterprise. Under the presumptive plan of taxation, gains/taxable revenue is presumed at fifty% with the gross receipts.
Additionally, you will be required to pay fascination under Sections 234B and 234C if you do not shell out advance tax through the fiscal calendar year's fifteenth of March.
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I am a chartered accountant, properly-versed inside the ins and outs of earnings tax, GST, and keeping the publications balanced. Numbers are my thing, I'm able to sift by means of monetary statements and tax codes with the best of these. But there is certainly A different aspect to me – a aspect that thrives on words and phrases, not figures. Browse extra