How 44 cash can Save You Time, Stress, and Money.
How 44 cash can Save You Time, Stress, and Money.
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Area 44AD – Typical textbooks of accounts are to get taken care of if income exceeds The essential exemption limit and an audit shall be performed if circumstances According to provisions of Part 44AB are fulfilled.
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You will also be required to shell out curiosity beneath Sections 234B and 234C if you do not pay out advance tax from the fiscal year's 15th of March.
Shows the amount of hrs worked and the amount of hours of leave Utilized in Just about every group throughout the pay back period of time.
I'm a chartered accountant, nicely-versed within the ins and outs of income tax, GST, and holding the textbooks well balanced. Figures are my matter, I'm able to sift by means of financial statements and tax codes with the best of them. But there is certainly A further facet to me – a aspect that thrives on text, not figures. Read extra
Presumptive taxation scheme relieves little taxpayers from preserving typical publications of account and get them audited. Threshold limitations beneath 44AD and 44ADA enhanced in Finances 2023.
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What's presumptive taxation? A presumptive taxation is usually a technique where a federal government assumes a certain share of one's turnover/gross receipts as your taxable profits regardless of the costs incurred.
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