5 Essential Elements For 44 cash
5 Essential Elements For 44 cash
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In the above illustration, the total receipt is under the revised/elevated presumptive Restrict of Rs. 75 lakh as well as cash receipt is fewer than 5% of the full receipts.
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Consequently just in case, Assessee isn't chargeable for Tax Audit beneath any in the clauses of Segment 44AB, thanks to benefit obtainable under this clause. So, with no computation, This could’t be ascertained.
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Equally the calculation for being created for the interval through which the goods carriage is owned from the taxpayer
After picking presumptive taxation, In case your money goes outside of the established limit then It's important to get your publications audited.
Professionals pointed out inside the segment can pay tax on their own gross receipts below part 44ADA, and they can go with this plan only if their full cash flow isn't going to exceed Rs.seventy five lakhs/fifty lakhs.
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