Not known Factual Statements About 44 cash
Not known Factual Statements About 44 cash
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If a taxpayer adopts a presumptive tax plan, he / she is not really required to maintain any guides of accounts beneath segment 44AD. He / she just really have to declare his / her presumptive earnings on The idea of 6% or eight% (as applicable)of the entire turnover or gross receipts of final 12 months
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The entire accrued turnover that every one the businesses earn through the program in the fiscal yrs shall be taken into account when boasting deductions underneath Part 44AD.
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Under Part 44AD of presumptive taxation, small taxpayers with a lot less than Rs 2 crore of turnover will not be demanded to maintain textbooks of accounts as well as their profits are presumed to get eight% in their turnover.
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Portion 44AD is actually a presumptive taxation plan, income will likely be calculated on The premise of 8% with the turnover( six% in the event of digital receipts and payments) and also the taxpayer incorporates a aid for not maintaining the books of account.
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