The 44 cash Diaries
The 44 cash Diaries
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Presumptive taxation under Sec 44ADA simplifies tax calculation for small professionals. Section 44ADA outlines principles and benefits, with boundaries revised in Spending plan 2023.
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Portion 44ADA – Standard books of accounts are to get taken care of and obtain them audited if revenue exceeds basic exemption limit.
No concession in payment of advance tax. Exact shall be compensated in four installments as per regular advance tax provisions
Note: Any quantity compensated Through progress tax on or prior to 31st day of March shall also be treated as advance tax compensated during the financial calendar year ending on that working day.
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Authorised consultant indicates a one that signifies another person for the price just before a tribunal or any authority constituted beneath any regulation. It doesn't consist of an worker of the person so represented or possibly a one who is carrying to the profession of accountancy
Even with choosing presumptive scheme less than area 44ADA, taxpayer can declare portion 80 tax conserving deductions and investments.
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I'm a chartered accountant, perfectly-versed during the ins and outs of profits tax, GST, and trying to keep the publications balanced. Quantities are my point, I'm able to sift through economic statements and tax codes with the ideal of them. But you can find Yet another facet to me – a side that thrives on text, not figures. Examine a lot more
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