Facts About 44 cash Revealed
Facts About 44 cash Revealed
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In the above illustration, the entire receipt is down below the revised/enhanced presumptive limit of Rs. seventy five lakh and also the cash receipt is less than 5% of the entire receipts.
Right here, we will Review his taxable income less than typical provisions as well as the presumptive scheme as down below:
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If an assessee fulfills any of the subsequent standards, then they must preserve publications of accounts and have accounts audited less than portion 44AB:
6% of complete turnover or gross receipts of a tax year been given by account payee cheque/bank draft, ECS through bank account on or in advance of owing day of submitting the return of cash flow
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Segment 44AD – Normal books of accounts are to become maintained if income exceeds The essential exemption limit and an audit shall be carried out if conditions as per provisions of Section 44AB are fulfilled.
Shows the monetary amount of several hours worked and of leave Employed in Each individual group during the shell out period.
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