Details, Fiction and 44 cash
Details, Fiction and 44 cash
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No, you won't be necessary to maintain books of account as you opt for presumptive taxation program.
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The earliest verified prevalence from the title Lavapura is on silver cash inscribed "lava" over the obverse and "pura" over the reverse in the Pallava-derived script of your seventh or eighth century; a number of this kind of coins have been recovered in 1966 from the hoard found in an historical jar in U Thong.[nine][10]
All deductions for business enterprise charges are deemed to are already authorized. Once revenue are taxed at 50% of your gross receipts, the harmony of fifty% is deemed to get authorized in direction of each of the business bills with the assessee.
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Notice: Any volume paid Through progress tax on or prior to 31st day of March shall also be treated as advance tax compensated during the monetary year ending on that day.
Even so, to deliver aid to tiny taxpayers from your laborous occupation of maintaining publications of account and acquiring them audited, earnings tax regulation has introduced the principle of presumptive taxation plan.
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In the above situation, Mr Ram can select presumptive taxation Should the tax is paid out website on 50% of gross receipts. Hence, Ram can prefer to pay back tax beneath the presumptive plan of taxation beneath part 44ADA.