44 cash No Further a Mystery

Both of those the calculation to get designed for the interval all through which the goods carriage is owned from the taxpayer

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You will also be necessary to fork out interest below Sections 234B and 234C if you do not fork out advance tax through the fiscal year's 15th of March.

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Section 44ADA is usually a Particular provision for calculating the taxable money for tiny gurus in specified circumstances.

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(“Owns” also involves items carriage taken on employ or installment exactly where the amount payable is still thanks)

Will I be allowed any deduction for any expenditure incurred for investments and coverage premium beneath Portion 80C and 80D, if I choose presumptive taxation?

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The Restrict is enhanced to INR seventy five lakhs if the total amount of money received in cash would not exceed 5 percent of the overall gross receipts of these kinds of former year.