5 Essential Elements For 44 cash
5 Essential Elements For 44 cash
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The time period `gross turnover’ and `Web turnover’ (or `gross gross sales’ and `Web profits’) are occasionally employed to differentiate the sales aggregate ahead of and soon after deduction of returns and trade savings”.
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Total progress tax might be paid by final installment of advance tax i.e., 15 March of a year, in case of failure to do so, interest is leviable @ one% on shortfall as per Portion 234C
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In the above mentioned circumstance, Mr Ram can go for presumptive taxation if the tax is paid out on 50% of gross receipts. For this reason, Ram can choose to pay out tax under the presumptive plan of taxation under area 44ADA.
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Following picking presumptive taxation, if website your profits goes outside of the set Restrict then You must get your publications audited.
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In this article, we can Review his taxable earnings underneath normal provisions plus the presumptive scheme as under:
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