44 cash No Further a Mystery
44 cash No Further a Mystery
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Presumptive taxation underneath Sec 44ADA simplifies tax calculation for modest professionals. Portion 44ADA outlines regulations and Advantages, with boundaries revised in Budget 2023.
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What on earth is presumptive taxation? A presumptive taxation is really a procedure where a governing administration assumes a specific percentage within your turnover/gross receipts as your taxable cash flow regardless of the charges incurred.
Presumptive taxation plan relieves compact taxpayers from retaining standard books of account and have them audited. Threshold restrictions below 44AD and 44ADA increased in Spending budget 2023.
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I'm a chartered accountant, nicely-versed within the ins and outs of money tax, GST, and keeping the books well balanced. Figures are my detail, I am able to sift by economic statements and tax codes with the very best of them. But there's Yet another facet to me – a read more aspect that thrives on terms, not figures. Read through additional
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