The smart Trick of 44 cash That No One is Discussing
The smart Trick of 44 cash That No One is Discussing
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Presumptive taxation beneath Sec 44ADA simplifies tax calculation for smaller professionals. Segment 44ADA outlines rules and Rewards, with limitations revised in Funds 2023.
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Observe: Any quantity paid out By means of progress tax on or prior to 31st day of March shall also be handled as progress tax compensated in the course of the financial yr ending on that working day.
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Precisely what is presumptive taxation? A presumptive taxation can be a method during which a government assumes a particular share within your turnover/gross receipts as your taxable cash flow no matter the expenditures incurred.
If the pros claim their cash click here flow being less than 50% of their gross overall receipts and in addition should they exceed the the limit of gross receipt, then they can't opt for presumptive taxation.
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