The Basic Principles Of 44 cash
The Basic Principles Of 44 cash
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Under Part 44AD of presumptive taxation, little taxpayers with under Rs 2 crore of turnover are not necessary to maintain textbooks of accounts as well as their profits are presumed to be 8% of their turnover.
Entire progress tax is usually compensated by very last installment of advance tax i.e., 15 March of the year, in the event of failure to do so, curiosity is leviable @ 1% on shortfall According to Portion 234C
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Displays the quantity of several hours labored and the amount of hours of go away used in Just about every classification 12 months up to now.
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Part 44AD is actually a presumptive taxation scheme, profits might be calculated on The premise of eight% with the turnover( six% in case of digital receipts and payments) along with the taxpayer incorporates a relief for not sustaining the publications of account.